- Around 2,500 Isle of Man businesses will receive an important survey
- Data collected is critical for calculating share of VAT, customs, and other duties
- Revenue received through FERSA makes up almost one third of the Island’s income
- Responding to the survey is compulsory for businesses
- Survey asks about irrecoverable VAT on business expenditure
- FERSA is a revenue sharing agreement between IoM and UK Governments
- Data collected by Statistics Isle of Man and deleted once calculations are complete
- Support available for businesses completing the survey
Source: gov.im
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
