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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
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| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
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| Isle Of Man Issues Additional Guidance On Trust Tax |
by Jason Gorringe, Tax-News.com, London
Thursday, October 29, 2009
The Isle of Man Treasury has released additional guidance on the taxation of trusts
in a practice note which sets out the Assessor's view of when trustees and beneficiaries of trusts may be subject to Isle of Man income tax.
The Practice Note provides guidance on: filing requirements; the Resident Exclusion
Clause; changes in trustees, and the trustees’ tax positions; trustee
management expenses; income distributions to non-resident beneficiaries; and
Purpose Trusts. The practice note also stipulates that the tax rate on trusts
for the fiscal year 2009/10 will be set at 18%.
The Treasury has reminded interested parties that the practice note, which should be read in conjunction
with PN 141/07 – The Taxation of Trusts in the Isle of Man, is intended
only as a general guide, and reference should also be made to the appropriate
legislation.
A comprehensive report in our Intelligence Report series
giving a country-by-country analysis of offshore investment funds, stock exchanges
and trusts, with an analysis of the US QI regime, is available in the Lowtax
Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report9.asp
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| THE LOWTAX LIBRARY
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topical, daily news on worldwide
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reports on a range of legal, tax and investment subjects.
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tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
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