The Isle of Man Income Tax Division has published a public response document laying out final plans for the introduction of the compulsory online tax regime for Isle of Man employers.
The proposals have been approved by Treasury and the timetable for a phased introduction will commence on April 6, 2012. Employers with more than 100 employees will be required to use Online Employer Tax Services from this date and employers with 10 or more employees will use the service from April 6, 2013.
Compulsory use of Online Employer Tax Services will be introduced for all other employers from April 6, 2014.
A number of criteria have been established to allow exemptions on some employers from the compulsory use of Online Employer Tax Services, to be considered by the Assessor of Income Tax.
.Tags: tax | offshore | business | employees | tax havens | international financial centres (IFC) | tax compliance | Isle of Man | compliance | Isle of Man
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