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IoM Consults On Changes To Pension Tax Regime
by Philip Morton, Investors Offshore.com
16 April 2008

The Isle of Man's Income Tax Division on Monday published a consultation on the draft orders and regulations needed to support provisions being introduced via the Income Tax (Pensions) Bill 2007.

The consultation document provides an update in relation to the passage of the Bill, and includes copies of the draft orders and regulations.

The consultation invites comment in relation to all of the draft orders and regulations, and makes particular reference to:

  • The drafting of mortality tables needed to support the withdrawal of income regulations;
  • The maximum permitted pension for members over 75; and
  • The minimum period during which the withdrawal of funds must be reviewed/amended.

A comprehensive report in our Intelligence Report series examining Expatriate Taxation and Reward Structures is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report10.asp

 

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