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Income tax amnesty underway

The Manx Treasury's announced a summer amnesty for taxpayers who need to bring their affairs up to date.

The Assessor of Income Tax is to waive penalties and interest in respect of information provided during a three month period.

It's an opportunity for anyone who's failed to fully disclose their income or register for tax purposes to get their affairs in order without risking a fine.

The voluntary disclosure scheme applies to any person resident for income tax purposes or who is or should pay non resident tax.

That covers individuals, companies, employers, contractors, trustees - or any entity liable to Isle of Man income tax.

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