The Isle of Man Treasury Minster, Alan Bell, has announced that he intends to bring proposals forward in this month’s sitting of Tynwald which will increase the fees payable for certain categories of firms and for International Limited Partnerships.
Under the changes, the fees for Tax Exempt Companies, International Limited Liability Companies and International Limited Partnerships will go up from GBP430 to GBP450 for applications made before 30th June each year.
The government announced that no changes are to be proposed for the higher rates chargeable upon late applications.
The necessary provisions confirming the amounts applicable will be on the Tynwald agenda for the February sitting and where appropriate will be subject to the approval of Tynwald.
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