.jpg)
The new minister for the Treasury has confirmed he has signed a two-year VAT sharing agreement with the United Kingdom.
In Tynwald today (Tuesday), Eddie Teare said the detailed document fixed the sum available to the Isle of Man from VAT and other revenue share-outs until 2013.
It was signed yesterday (Monday) by the Manx Treasury and Her Majesty's Revenue and Customs.
Arrangements beyond 2013 are still being discussed, using what's being called the Tax Based Measurement Method.
Mr Teare said talks had begun to agree a formula:
Photo ID requirements could create 'faff' at borders, says Steam Packet boss
DHSC minister 'absolutely committed' to reopening Ramsey hospital
Enterprise minister 'optimistic' following challenging period for tourism sector
Plans to protect Douglas Head to be laid before Tynwald in May
Casualty rescued from Polish tall ship