The controversial tax measure ARI has been officially abolished.
Earlier this week, Treasury Minister Eddie Teare said the Island was prepared for the loss of the Attribution Regime for Individuals.
ARI was introduced to prevent local companies 'rolling-up' income in companies subject to the zero rate.
It’s being scrapped by Treasury after criticism from Europe.
Mr Teare says the government has been working with professional bodies to help firms understand corporate distribution taxation.
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