Income Tax and National Insurance News
Over 10.000 tax returns received online already
Over 10,000 2014/15 tax returns have already been submitted using Online Tax Services and the Income Tax Division would like to remind everyone that they are...
Tuesday, 29 September 2015
Guidance for Island residents on increased tax scrutiny
The Income Tax Division is offering guidance to residents who may be worried about increased scrutiny of their income from off-Island as a result of new global...
Tuesday, 1 September 2015
Proposal to end age exemption from National Insurance payments
The Treasury has launched a public consultation on a proposal to stop workers being exempted from making National Insurance contributions once they reach state...
Wednesday, 19 August 2015
Tax Agreement with Italy comes into force
The Isle of Man’s Agreement for the Exchange of Information Relating to Tax Matters with the Government of the Italian Republic entered into force on 10 June...
Tuesday, 23 June 2015
FATCA reporting deadline near
The 30 June 2015 deadline for Isle of Man Reporting Financial Institutions to submit their first US FATCA reports to the Income Tax Division is now less than...
Tuesday, 16 June 2015
Income Tax apologises for e-mail error
The Income Tax Division of Treasury has apologised for an operational error which resulted in groups of its customers being able to see each other’s e-mail...
Thursday, 21 May 2015
Isle of Man removed from Italian blacklist
On 1 April 2015 the Italian Ministry of Economy and Finance removed the Isle of Man from its blacklist.
The new list implements provisions, announced in the...
Friday, 17 April 2015
Online Corporate Tax Return Guide
Following approval at the February sitting of Tynwald a compulsory online filing regime will be introduced for companies with accounting periods ending on or...
Monday, 30 March 2015
Tax agreement with Lesotho comes into force
The Isle of Man’s Agreement for the Exchange of Information Relating to Tax Matters with the Kingdom of Lesotho entered into force on 3 January 2015.
The...
Tuesday, 6 January 2015
Important information regarding corporate income tax returns for accounting periods ended on 31 December 2013
If a corporate taxpayer fails to submit its income tax return by the due date, then they may become liable to a £250 late return penalty. As the Income Tax...
Wednesday, 17 December 2014