THE Island's Treasury Minister has said the government will continue to monitor developments following last Friday's meeting of the EU Code of Conduct Group.

The group is considering aspects of the Island's zero-ten business taxation system – principally how the attribution regime for individuals (ARI) interacts with it.

Anne Craine MHK said: "This is an important matter for the Isle of Man and we are gathering further information so that we can gain a clear and full understanding of any concerns raised on what are quite complex and technical issues.

"We would expect that the views of the EU Code of Conduct Group will be explained in detail so that we can consider them carefully before determining what course of action, if any, to take."

Mrs Craine said the next stage would be for the group to report to the EU Council of Finance Ministers (ECOFIN), in December, on its work to date including consideration of aspects of the Isle of Man's business taxation system.