The Isle of Man Treasury has issued a notice confirming the extension of the temporary reduced VAT rate introduced in response to COVID-19 until 31 March 2021. Note that the UK extended the 5% reduced rate as well, which was confirmed in December 2020.
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Extension to temporary VAT reduced rate
Wednesday, 20 January 2021
The Value Added Tax Act 1996 (Reduced Rate) (Amendment) Order 2020 was laid before Tynwald yesterday. This Order extends the temporary reduced rate of 5% VAT introduc…