As per the Isle of Man’s 2015 Budget, with effect from 6 April 2015 the rate of income tax for corporate taxpayers on income derived from land and property within the Isle of Man (IoM) has increased from 10% to 20%.
As per the Isle of Man’s 2015 Budget, with effect from 6 April 2015 the rate of income tax for corporate taxpayers on income derived from land and property within the Isle of Man (IoM) has increased from 10% to 20%. This includes any income derived from the following: mining and quarrying; landfill; property development; commercial property letting; and rental income.
Income received by companies derived from land and property situated outside IoM is subject to the standard rate of corporate income tax of 0%. Where a corporate taxpayer’s accounting period spans 6 April 2015 when the 20% rate comes into effect, the profits for that period will be apportioned by the number of days in each period. For further information, see the IoM government practice note at www.bit.ly/1HTr3oC.
As per the Isle of Man’s 2015 Budget, with effect from 6 April 2015 the rate of income tax for corporate taxpayers on income derived from land and property within the Isle of Man (IoM) has increased from 10% to 20%.
As per the Isle of Man’s 2015 Budget, with effect from 6 April 2015 the rate of income tax for corporate taxpayers on income derived from land and property within the Isle of Man (IoM) has increased from 10% to 20%. This includes any income derived from the following: mining and quarrying; landfill; property development; commercial property letting; and rental income.
Income received by companies derived from land and property situated outside IoM is subject to the standard rate of corporate income tax of 0%. Where a corporate taxpayer’s accounting period spans 6 April 2015 when the 20% rate comes into effect, the profits for that period will be apportioned by the number of days in each period. For further information, see the IoM government practice note at www.bit.ly/1HTr3oC.
