O n 19 February 2013, the Treasury Minister presented the Budget 2013-14 to Tynwald. On the same date, the Income Tax Division of Treasury published the following Practice Notes, describing the Budget proposals: -   PN 180/13 on income tax and national insurance amendments; -   PN 181/13 on the introduction of a 10% corporate rate for retail business; and -   PN 182/13 on the extension of the Employer National Insurance Holiday Scheme. Details of the draft proposals are summarized below. Corporate income tax Extension of the 10% corporate income tax rate to resident and non-resident taxpayers carrying on retail business in...