Children's meals to be cheaper under VAT cut
Summary
The Isle of Man is lowering VAT (a type of sales tax) on children's meals and family tickets for entertainment from 20% to 5% between June 25 and September 1. This tax cut aims to help families with rising costs and support local businesses during the summer.Key Facts
- VAT on children's meals in restaurants will drop from 20% to 5% from June 25 to September 1.
- The reduced VAT also applies to family tickets for cinemas, theatres, shows, and attractions.
- Fuel duty (tax on fuel) will remain frozen until December 31.
- Tax on red diesel fuel used by farming and fishing industries will be cut by about one-third starting June 15.
- The red diesel duty will fall from 10.18p to 6.48p per litre.
- Treasury Minister Chris Thomas said the changes help families manage costs and support local businesses.
- Environment Minister Clare Barber said the fuel duty cut will help farming and fishing businesses by lowering their expenses.
- These measures align with similar efforts in the UK to ease living costs for families.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.