- Isle of Man Treasury Department announced an increase in VAT registration and deregistration thresholds
- VAT registration threshold increased to 90,000 British pounds
- VAT deregistration threshold increased to 88,000 British pounds
- Businesses can voluntarily register if taxable turnover is below the threshold
- Purpose is to prevent businesses trading around the threshold from constantly registering or deregistering
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
