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  • Service: Tax, International Executive Services
  • Type: Regulatory update, Survey report
  • Date: 7/8/2014

Isle of Man - Special considerations for short-term assignments 

Taxation of international executives
Residency rules
Payroll considerations
Taxable income
Additional considerations


For the purposes of this publication, a short-term assignment is defined as an assignment that lasts for less than one year.


Residency rules

Are there special residency considerations for short-term assignments?


A short-term assignee may avoid becoming resident in the Isle of Man, depending upon the duration of their assignment.


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Payroll considerations

Are there special payroll considerations for short-term assignments?


No.


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Taxable income

What income will be taxed during short-term assignments?


If the assignee is treated as resident in the Isle of Man, he/she will be taxable on his/her worldwide income. If non-resident, however, he/she will be taxed on Manx-source income only.


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Additional considerations

Are there any additional considerations that should be considered before initiating a short-term assignment in the Isle of Man?


Assignees from the United Kingdom, Estonia, Bahrain, Qatar and Malta may be protected under double-taxation treaties.


Assignees from Denmark, Poland, Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden may benefit from agreements for the avoidance of double taxation on individuals.


Assignees from other countries will not have any treaty protection.




© 2014 KPMG LLC, an Isle of Man Limited Liability Company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved.

 

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 Isle of Man

Taxation of international executives