Low Tax on 16th November reported that the Minister of International Business and Industry has confirmed that the territory will soon repeal a number of tax measures that are considered to be contrary to new international standards on harmful tax regimes.  The regime that established the international business company form will be dismantled, the law repealed, and a raft of tax incentives used to lure IBC will be removed – most significantly the foreign currency earnings credit.  Incentives allowed some businesses to enjoy a tax rate as low as 0.25%.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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