Companies in the Isle of Man are subject to Income tax.
The good news is that for almost all companies the relevant rate of income tax payable by companies is 0%. (great eh ?)
Note: for licensed banks and large retailers (eg M&S / B&Q / Tesco), the rate is 10% and there is a 20% tax charge on rental income from local property and other income derived from Manx land.
No capital gains tax is levied against companies.
Despite the 0% tax rate, companies still have to submit annual tax returns and financial statements to the Income Tax Division.
If you have questions about Isle of Man company taxation, then feel free to ask us. You can also contact the Income Tax Division directly. You can reach them by telephone on +44 1624 685400 or email them on incometax@gov.im.
See our article Isle of Man Tax for New Residents for more information.
