The new income and capital tax treaty between the Isle of Man and the UK entered into force on 19 December 2018. The treaty, signed 2 July 2018, replaces the 1955 tax arrangement between the Isle of Man and the UK. Taxes Covered The treaty covers Isle of Man income tax (Manx tax) and UK income tax, corporation tax, and capital gains tax. Residence If a company is considered resident in both Territories, the competent authorities will determine the company's residence for the purpose of the treaty by mutual agreement, having regard to its place of effective management, the place...