Isle of Man: Domestic Corporate Taxion
Filing Requirements and Payment of Tax
This page was last updated on 25 February 2020.
Since 6 April 2007, companies in the Isle of Man have been taxed based on the accounting period ‘pay and file’ system. An accounting period can last no more than 12 months. The tax return is due a year and a day after the accounting period ends. This is also the date by which payment of any income tax liability or charge must be made. Returns can be filed and payments can, of course, be made before the due date.
If the return is not filed by the due date, a late return penalty will be charged. A second penalty will be charged if the return is still outstanding six months after the due date. Interest may be charged on any income tax liability or charge that is not paid by the due date, and will be calculated from the due date no matter when any form of payment notice was issued.
Returns for accounting periods must be completed and submitted online, together with payment of any liability due, using the online tax services.