Newcomers and returning students have received NI refunds totally more than £6m since 2020.
Treasury Minister Dr Alex Allinson revealed the figures after a question from Julie Edge (Onchan).
The total figure paid out since 2020 has been £6,307,959.55.
The breakdown for the the tax year 2020/21 was £915,428.37; 2021/22 – £868,233.34; 2022/23 – £1,288,335.28; 2023/24 – £1,728,412.99; and from April 6 2024 to February 12 2025 – £1,507,549.57.
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Dr Allinson announced in this year’s Budget that announced that from April 6 2025 the Scheme would only apply to students returning to the island once they have completed their studies.
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Ms Edge had asked for a breakdown of the salary of employee in line with the Enterprise Development Scheme; and b) immigration category of employee.
However Dr Allinson said he couldn’t release that information as it isn’t held by the Income Tax Division who administer the National Insurance Holiday Scheme.
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