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IoM Treasury Seeks Public's Views On Income Tax Reform

by Jason Gorringe, Tax-News.com, London

20 October 2003

As part of the Isle of Man's plans for reform of the jurisdiction's income tax code, the Treasury is releasing a public consultation document that seeks taxpayer's opinions and views on the taxation of couples' income.

Specifically, the tax authorities are considering giving wives the same authority as their husbands in joint tax matters. At present only the husband's signature is recognised as legal on a tax return form, and wives cannot access tax records without their husbands' consent.

"I feel very strongly that the tax code we develop should represent the views of the people of our Island, however I do not wish to see the tax system used to socially engineer changes within our population," Treasury Minister Alan Bell explained in an IOM Online report.

Any changes to the current rules will become part of the third of four bills which are expected to simplify the jurisdiction's tax code and introduce a new corporate tax system.

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