Government Offices
Buck's Road, Douglas
Isle of Man IM1 3TX
Enquiries:
+44 (0) 1624 685400

European Savings Directive Information

The Income Tax Division is committed to keeping taxpayers and their advisers informed about significant changes in the Tax system. We recognise the need that many people have for information regarding the practical implications of the Savings Directive, which is due to become operational on July 1st 2005. Information published here will be of interest to a broad range of businesses in the financial sector, to the accountancy and legal professions and to a number of individuals seeking information on the application of the EU Directive in the Isle of Man.

All documents are available on request by contacting the Division at Government Office, Bucks Road, Douglas, Isle of Man IM1 3TX. Telephone: 01624 685400 Fax: 01624 685351

A press release marking the commencement of the Directive can be found by clicking here.

Practice Note 118/05 outlining reporting procedures for paying agents can be found here

Practice Note 140/07 (supplementary to PN 118/05) provides additional information in relation to the reporting requirements of existing and new paying agents following the accession of Bulgaria and Romania to the European Union and can be found here

Statutory Document 150/05 Income Tax (Retention of Tax and Exchange of Information) (Temporary Taxation) Order 2005 can be found here

Statutory Document 378/05 Income Tax (Retention of Tax and Exchange of Information) Regulations 2005 can be found here

The 'Retention Tax Deducted Form' to be completed by paying agents can be found here.

A further press release issued in July 2006 can be found here

Guidance Notes (GN31) on the application of the European Savings Directive for Isle of Man Paying Agents and the model agreements are available from the download table below.

Downloadable Documents