IoM Sees More Taxpayers Submitting Returns Online
by Jason Gorringe, Lowtax.net, London
12 September, 2017
Isle of Man taxpayers are submitting their personal income tax returns online in increasing numbers, according to figures released by the island's Income Tax Division.
With less than one month to go until the October 6 deadline for returns for the 2016/17 tax year, almost 11,000 returns have been submitted online, representing 35 percent of all returns received to date. At the same time last year over 9,200 returns had been submitted online, or 30 percent of the total received by that stage.
Commenting on the rise in online submissions, Gerard Higgins, Business Solutions Group Manager with the Treasury's Income Tax Division, said: "It is highly encouraging to see the continuing increase in the number of people using the faster simpler route of submitting their tax return online, including speedier processing of any refunds that may be due."
Taxpayers have until October 6, 2017, to submit their tax returns. A penalty of GBP100 (USD132) will be charged for those missing this deadline, with a further penalty of GBP200 (USD265) if the return is not filed by April 6, 2018.
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