Isle of Man Corporate Income Tax

Company income tax rates and base

The Isle of Man taxes most company profits at 0%, with higher rates reserved for banking/large-retail, Isle of Man land income, and (from 2024) certain extraction activities. A 15% Pillar Two top-up applies to in-scope multinational groups. There are no withholding taxes on dividends, interest or royalties.

• Standard corporate income tax rate — 0% % (Income Tax Act 1970)
• 10% rate (banking and large retail) — 10% on banking deposit-taking income and on retail profits exceeding IMP 500,000 in the year % (Income Tax Act 1970)
• 20% rate (Isle of Man land/property and extraction) — 20% on income from Isle of Man land and property, and (from 2024) petroleum extraction activities/rights % (Income Tax Act 1970)
• Pillar Two domestic top-up rate — 15% effective minimum rate for in-scope large multinational groups (OECD Pillar Two) % ((approx — confirm Act title)) (Global Minimum Tax (Pillar Two) Act 2024)
• Voluntary election to 10% — Certain 0%-rate companies may elect to be taxed at 10% (Income Tax Act 1970)
• Tax base — Worldwide profits of resident companies; Isle of Man-source profits of non-resident companies (Income Tax Act 1970)
• Withholding tax on dividends — 0% (no withholding tax on dividends) % (Income Tax Act 1970)
• Withholding tax on interest — 0% (no withholding tax on interest) % (Income Tax Act 1970)
• Withholding tax on royalties — 0% (no withholding tax on royalties) % (Income Tax Act 1970)
• Distribution/loan charge — Historic 'distributable profits charge' / attribution regimes abolished; relevant Manx-resident shareholders taxed on distributions ((approx — confirm)) (Income Tax Act 1970)
• Corporate tax return deadline — Within 1 year and 1 day of the end of the accounting period ((approx — confirm)) (Income Tax Act 1970)
• Corporate tax payment deadline — Tax due within 1 year and 1 day of the accounting period end (alongside the return) ((approx — confirm)) (Income Tax Act 1970)