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IOM postpones soft drinks industry levy

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The Isle of Man government has postponed introduction of the soft drinks industry levy (SDIL) for one year until 1 April 2019. This is to allow time for a change to UK legislation, required by the addition of the levy to the schedule of common shared duties under the UK/IOM Customs and Excise Agreement 1979.

The IOM Treasury points out that IOM businesses buying soft drinks during 2018/19 from UK suppliers may be charged inclusive of UK SDIL. Where the supplier is entitled to a tax credit from HMRC in relation to the export, it will be entirely a matter for the supplier to decide whether to pass this on.

Issue: 1389
Categories: News , International taxes