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Proposed Compulsory Online Return Filing for Isle of Man Companies

29 May 2014

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Proposed Changes

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Isle Of Man

The Income Tax Division of the Isle of Man has issued a proposal document for the compulsory online filing of company tax returns. Although companies are not currently required to file online, more than half of companies do make use of the service according to the proposal. Initially it was proposed that the requirement for online filing would begin for returns due on or after 6 April 2015. However, this is seen as being too soon for companies to make the necessary adjustments. Under the current proposal, two alternatives are being considered; either apply the online filing requirement for companies...