Finance, Taxes, Insurance
Isle of Man Cleared in Bizjet Tax Avoidance Review
A detailed UK Government review found the Isle of Man correctly implemented and administered UK and EU VAT law for aircraft and yachts.

The UK government’s review of how the Isle of Man administers tax on aircraft and yachts has found no evidence of value-added tax (VAT) avoidance—although it has recommended additional post-registration compliance checks. The review’s findings were published yesterday after an in-depth investigation into the application of aircraft and yacht VAT rules in the Isle of Man, and whether its rules and procedures enabled importation of private jets into the EU without paying the correct amount of VAT.