TaxCorporate TaxManx tax strategy wins Brussels’ approval

Manx tax strategy wins Brussels' approval

The decision by the Isle of Man to move to a uniform system of corporate taxation has won the full approval of Brussels.

Link: Manx Budget encourages enterprise

This follows Manx’s decision to implement a national taxation strategy, which includes the introduction of a standard zero rate of income tax for business.

The Manx tax plan fulfils the requirements of the EU’s Code of Conduct on Business Taxation, which seeks the phasing out of special preferential rates for particular types of business.

Manx Treasury minister Allan Bell said: ‘We welcome the reassurance that the move is in line with the EU Code of Conduct.

‘This is a significant international endorsement of our taxation strategy and will provide the future certainty for which our industry has been looking.’

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

1m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

1m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

3m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

4m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

7m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

7m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

8m Alia Shoaib, Reporter