Income Tax and National Insurance News

Corporate Distributions

On 24 February 2012, Treasury Minister Eddie Teare, MHK, made clear that the Isle of Man Government has no intention of introducing a capital gains tax...
Wednesday, 4 April 2012

Company Residence for Income Tax Purposes

A company resident in the Isle of Man for income tax purposes is taxable on its worldwide income. However, a company can be resident in more than one country...
Tuesday, 3 April 2012

PN 175 Compulsory Use of Online Tax Services for Employers

In his 2012 Budget, the Treasury Minister confirmed that following consultation in 2010, the compulsory use of Online Tax Services for employers will be...
Thursday, 29 March 2012

Tax Agreements with Bahrain and Mexico come into force

The Isle of Man’s Double Taxation Agreement (DTA) with Bahrain enters into force today (8 March 2012) and the Island’s Tax Information Exchange Agreement (TIEA)...
Thursday, 8 March 2012

Foreign Account Tax Compliance Act

On 8 February 2012, the United States Treasury Department and Internal Revenue Service jointly issued proposed regulations for the next phase of implementing...
Friday, 24 February 2012

Distributions from Capital Gains

The Isle of Man does not have capital gains tax and there is no intention to introduce such a tax.
Friday, 24 February 2012

Tax Agreement with Portugal comes into force

The Isle of Man’s Tax Information Exchange Agreement (TIEA) with Portugal will enter into force on 18 January 2012. The agreement was signed in London on 9...
Monday, 9 January 2012