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Income Tax and National Insurance News

Personal Service Companies - Consultation Document Issued

The Income Tax Division, on behalf of the Treasury, has today published a consultation document addressing personal service companies which includes a draft of...
Monday, 6 August 2012

Taxation Strategy Consultation issued

In his 2012 Budget speech, the Treasury Minister, Hon. Eddie Teare, MHK, gave a commitment to publishing a new taxation strategy before the end of this year...
Monday, 2 July 2012

PN178/12 The Tax Treatment of Foundations

The Foundations Act 2011 came into force on 1 January 2012. The Practice Note which provides guidance on the treatment of foundations for Isle of Man...
Wednesday, 23 May 2012

Tax Agreement with Czech Republic comes into force

The Isle of Man’s Tax Information Exchange Agreement (TIEA) with Czech Republic will enter into force on 18 May 2012. The agreement was signed in London on 18...
Friday, 18 May 2012

Isle of Man signs new Double Taxation Agreement with Qatar

The Isle of Man has signed a comprehensive double taxation agreement (DTA) with Qatar. The signing ceremony took place on Sunday 6 May 2012 in Qatar...
Tuesday, 8 May 2012

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
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