We are now proposing a legislative change which would help to simplify the income tax position for companies with dual residence. In order to seek views and comments on this proposal the Income Tax Division, on behalf of Treasury, has today published a consultation document outlining the proposed change and containing a draft of the legislative amendment.
The consultation document is available on the Income Tax Division website at: http://www.gov.im/treasury/incometax/consultations.gov. Alternatively, a paper copy can be obtained from the Division or by contacting General Enquiries on 685400.
Anyone wishing to submit their views on the consultation is invited to do so by 14 May 2012. Responses should be sent to:
Assessing Technical Manager Income Tax Division
2nd Floor Government Office Buck’s Road