Isle of Man: Domestic Corporate Taxion
Scope of Corporation Tax
Income tax is levied under the Income Tax Acts 1970 to 2008. Resident companies (referred to as 'associations' in Manx law) pay income tax on their worldwide income. Resident companies are those controlled and managed in the Isle of Man. Non-resident companies are liable for income tax on income derived from the Isle of Man. Branches of foreign companies are treated for tax purposes as if they were Manx companies, once registered, depending on whether they are resident or non-resident.
The Manx Government sometimes gives temporary exemption from income tax on part or all of their profits to industrial undertakings (up to 5 years) and to managed banks (branches of foreign banks managed by local banks).
See Offshore Tax Regimes for details of the duty and taxes payable by non-resident and exempt companies, and International Companies.