Isle of Man Parliament Passes Order to Implement Income Tax Substance Requirement Amendments – Bloomberg Tax

The Isle of Man Parliament (Tynwald) July 17 passed an order to implement amendments to income tax substance requirements for resident companies. The measures amend: 1) the list of core income-generating activities for companies with income from intellectual property (IP) assets; 2) the definition of high-risk IP; and 3) the definition of foreign tax official to add non-EU jurisdictions. The order enters into force and takes effect July 18. [Isle of Man, Parliament, 07/17/19]

Reference:
View Statutory Document No. 2019/0271. View Index.

To read the full article log in. To learn more about a subscription click here.

Source: news.bloombergtax.com

Leave a Reply

Your email address will not be published. Required fields are marked *