Isle of Man: Payroll Calendar for the Next Month

November 5 – This is the final day of tax month 7.  The T35 Remittance Card and ITIP/National Insurance in respect of the payments made in the tax month to November 5 must be sent to the Income Tax Division by November 19.

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A new Tax Information Exchange Agreement (TIEA) between the Isle of Man and New Zealand was signed on 27 July 2009. The Agreement will enter into force as soon as both governments have completed their domestic legislative procedures needed to give it effect.

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On 8 May 2009, the Isle of Man signed a comprehensive double taxation agreement (DTA) with Estonia.

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On 2 April 2009, amendments to the double taxation agreement with the United Kingdom were confirmed and, both countries having ratified the changes, they came into force on 6 April 2009. A tax information exchange agreement between both countries also entered into force on 2 April 2009.

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Two agreements were signed by Ministers of the Isle of Man and France on 26 March 1009; a Tax Information Exchange Agreement and a Double Taxation Agreement in respect of international shipping. The Isle of Man now has tax co-operation agreements in place with 14 countries, over a quarter of the 51 TIEAs in existence globally.

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Two agreements were signed by Ministers of the Isle of Man and Germany on 2 March 2009 – a tax information exchange agreement and a double taxation agreement. The Isle of Man now has tax co-operation agreements in place with 13 countries, 11 of which are members of the OECD.

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Isle of Man: Budget 2009 - Taxation changes from April 2009

The following taxation measures for the 2009/10 tax year were announced by the Minister for the Treasury in his Budget speech on 17 February.

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On 29 January, the Isle of Many concluded two agreements with the government of Australia, a tax information exchange agreement (TIEA) and an agreement on, among other matters, the taxation of pensions and retirement annuities and the taxation of salaries from government service.

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The rate of interest used for repayment of tax paid on account reduces from 3% to 0.5% from 6 February 2009, and the rate at which interest is calculated on overdue tax reduces from 8% to 5% from the same date.

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The Isle of Man and Ireland governments have confirmed that both countries have completed their legislative procedures and that the Tax Information Exchange Agreement and the Double Taxation Agreement between the two countries entered into force on 31 December 2008.

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