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Finance and Taxation In March 2000
(and subsequently) the Isle of Man was awarded a AAA credit rating by
Standard & Poor and Aaa rating by Moody. This typifies the sound base and
quality business existing on the
and bodes well for the future.
The Isle of Man is a low tax area and is free of capital taxes (i.e. no capital gains tax or inheritance tax is levied). Frequently, careful tax planning is beneficial for Manx residents whether Manx born or otherwise, as there can be tax implications in other jurisdictions. Personal tax rates are capped at 18% and a tax cap of £100,000 (per person) was introduced effective 6th April 2006. Corporate tax (other than for banks and for land and property**) is NIL effective from 6th April 2006 thus creating an extremely attractive low tax area for existing and new business. For more information on tax rates including trusts and value added tax visit the Isle of Man Government website at: http://www.gov.im/treasury/incometax** A flat corporate tax charge of £250 is payable by all Manx companies from 6th April 2006
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