In accordance with the UK Government’s Spring Statement, the Isle of Man will introduce a tobacco duty increase of £2 per 100 cigarettes or 50 grams of tobacco from October 1, 2026.
The Manx Government will freeze alcohol duty rates until February 1, 2025.
In other news, the temporary 5p cut in fuel duty rates will be extended until March 2025 and the planned inflation increase for 2024-25 will not take place.
The Isle of Man Government will replicate these changes with details being posted on the Customs and Excise website in due course.
Tobacco and vaping
Referring to the UK’s intention to introduce a vaping products levy from October 2026, the Treasury Minister, Dr Alex Allinson MHK said:
“The Isle of Man has been proactive in this area by introducing legislation to restrict the availability of these products to children and young people.
“The UK’s aim of establishing a levy to be paid by manufacturers on imports by 2026 will be monitored closely by our Customs and Excise team in the coming months as the consultation process takes place.”
The UK Chancellor, Jeremy Hunt MP, delivered the UK Government’s Spring Budget Statement yesterday (March 6).
Allinson said that the UK Government statement was “wide-ranging and contained a number of elements of interest from an Isle of Man perspective”.
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