Cap on IoM corporate tax still uncertain

The Isle of Man Treasury’s consultation on ‘Capping Corporate Tax Liabilities’ was published on 16 March and received a total of seven responses, on the whole welcoming the idea and the proposed cap of £6m. However, the positive feedback has not hurried the decision-making process, with the Treasury pointing out it is an “ongoing” process, and although the feedback is welcome a schedule and details of the legislation are not yet available. The aim of the consultation was to seek views about plans to limit corporate tax liabilities to a level above the current highest payer, which would ...