The Isle of Man Treasury has published Practice Note (PN) 216/21, which provides guidance on the taxation of COVID-19 financial support, including the following measures:
- COVID-19 Salary Support Scheme;
- Manx Earnings Replacement Allowance (MERA);
- Coronavirus Business Support Scheme;
- Coronavirus Fisheries Industry Support Scheme; and
- Strategic Capacity Scheme.
Income Tax
For income tax purposes, it is provided that all amounts received by businesses or individuals under the above lis…