Chamber stands behind industry’s call for VAT overhaul

The Isle of Man Chamber of Commerce says it ‘stands firmly behind Victory Cafe Isle of Man and the wider hospitality industry’s call for a VAT overhaul’.

It says it has been ‘advocating for policy changes that bolster our local businesses and contribute to a more thriving economic landscape in this sector for some time’.

The Chamber believes that the current VAT rate places a significant strain on the hospitality sector, and others impacting its competitiveness and growth.

VAT overhaul

It believes that a reduced VAT rate is crucial for the sustainability and vitality of these businesses.

The Chamber says these businesses are the cornerstone of the Island’s economy and community and will continue to serve our island well long into the future.

It encourages constructive dialogue between its members, individual businesses and trade associations with the government.

Adding that it will ‘continue to highlight the importance of this issue until tangible changes are implemented’.

Concluding with, ‘Supporting our local businesses means fostering an environment where they can not only survive but thrive’.

Local businesses

The Chamber shared a story of Manx.News’ in support of Vicky Cottier, who runs Victory Café.

Vickey took to Facebook to explain the struggles recruiting for the hospitality sector, and how the Government are not helping the sector.

She eluded to the VAT bill the business receives being far from helpful:

“I live in false hope that somehow VAT could be reduced (I know, I know…. you folk in Government ‘JUST CAN’T DO THIS!!’ – though I’m not so sure that I understand why), or even some sort of VAT rebate (which I have heard has been muted).

“If this happened, honestly, us hospitality business owners would plough that extra money right back into our people because we all believe that we deserve higher pay.

“We all know that higher pay would draw people out of those jobs that they don’t enjoy and over into our sector where we sing in the kitchen, be super creative, pull off crazy shifts, and thoroughly enjoy being together.”