Non-resident retailers with a base in the Island could be taxed on their profits – but only after an extensive and in depth consultation process.
Treasury Minister Allan Bell confirmed the position in the House of Keys.
Michael MHK David Cannan had wanted to know why the Treasury hasn’t ordered those companies with turnovers over ?5 million to pay 10 per cent tax here.
Mr Bell says the issue is being considered by his department, but in the past it had been thought it could destabilise the economy.
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