Isle of Man

Individual - Significant developments

Last reviewed - 09 February 2021

Tax treaties

As of 31 December 2020, the Isle of Man had entered into 11 comprehensive double tax agreements (DTAs), 13 limited-scope DTAs, and 39 tax information exchange agreements (TIEAs) based on the Organisation for Economic Co-operation and Development (OECD) models. The Isle of Man also has a DTA with the United Kingdom (UK) that predates the OECD model.

Key employees

Legislation was introduced with effect from 6 April 2020 that replaced an extra statutory concession relating to special treatment of key employees.

The special treatment is aimed at individuals who are or will be new residents and who are essential to the implementation and the operation of new business in the Island.

Subject to fulfilling certain conditions, for the first three years after becoming resident for tax purposes, the income of the individual will be treated as if they were not resident in the Island.