Income Tax Bill completes second reading in House of Keys
Treasury needs to look at the way it raises revenue in order to balance the budget.
That's from Treasury Minister Alex Allinson after the second reading of the Income Tax Bill 2023 progressed through the House of Keys.
The new laws are designed to reduce tax-free allowances for high earners.
Dr Allinson hopes the move will mean a reduced reliance on the reserves:
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Guidance can be found online or from the Legislative Buildings