The Income Tax Division has today published a public response document entitled ‘Proposed Introduction of Compulsory Online Filing of Company Tax Returns.’
Having given full and detailed consideration to the results of the consultation Treasury will look to introduce the regime for companies for accounting periods ending on or after 5 April 2015.
There will be a number of criteria which may be considered as grounds for exemption from compulsory online filing. Treasury also appreciates that companies and their appointed agents may have some initial difficulties adjusting to the new way of submitting a tax return and therefore the Income Tax Division will provide assistance upon request.
The full response document can be found at:
http://www.gov.im/ConsultationDetail.gov?id=440
