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IoM Proposes Fee Increases For Offshore Companies

by Jason Gorringe, Tax-News.com, London

12 January 2005

Isle of Man Treasury Minister Alan Bell has announced proposals that will see an increase in fees payable by tax exempt and international companies.

The new fee structure for 2005/2006, which must be approved by the Tynwald, is set out below:

Tax Exempt Companies:

• Paid before 30th June, £475
• Paid after 30th June £1,260

International Companies:

• Paid before 5th August, £1,260
• Paid before 5th December, £2,520
• Paid before 5th April, £3,780

International Limited Liability Companies:

• Paid before 30th June, £475

International Limited Partnerships:

• Paid at any time, £475


The necessary provisions confirming the amounts applicable will be on the agenda for the February sitting of Tynwald.

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