THE Isle of Man Treasury has published further information regarding the VAT revenue sharing arrangement which will see the Island lose £75 million a year in income.

Last month the Isle of Man Government accepted a revised arrangement following 10 months of negotiations with HM Treasury.

The new arrangement means the Island will lose 14 per cent of its annual income. This year revenue will be reduced by £30 million, next year by £50 million and from then on there will be a reduction of £75 million per year.

Now the treasury has published a four page document which provides additional information on the changes including background information and a frequently asked questions section.

To view this document visit: http://www.gov.im/lib/docs/treasury/finance//additionalinformationontherevise.pdf

Also see: "Challenging times" ahead as Isle of Man loses 14 per cent of annual income