Isle of Man Treasury Lowers Interest Rates for Late VAT Payments and Repayments

• Isle of Man Treasury announced reduced interest rates for late payments and VAT repayments
• Changes effective from August 27
• Late payment interest rate reduced to 6.50 percent from 6.75 percent
• Repayment interest rate reduced to 3.00 percent from 3.25 percent
• Reductions align with UK VAT and indirect tax management agreement

Source: news.bloombergtax.com

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.

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