2010-11 ISLE OF MAN BUDGET AT A GLANCE:
- Corporate Taxation
- The standard rate of tax applying to the income of companies remains at 0% with the exceptions of income from
banking business and income from land and property situated in the Isle of Man (development and rental income)
both of which are taxed at a rate of 10%.
- Direct Taxation
- The income tax standard rate for individuals is10%.
- The income tax higher rate for individuals is 20%.
- Income tax personal allowances increase to £9,300 for single persons and £18,600 for married couples.
- Tax cap on total income tax payable per person is £115,000 or £230,000 per married couple.
A transcript of the Treasury Ministers Budget Speech 2010, together with the 'Pink Book' can be found on the Isle of Man Government Website or by clicking on the following link: 2010 Budget
