close
Share with your friends

Isle of Man - Special considerations for short-term assignments

Isle of Man - Special considerations for short...

Taxation of international executives

1000

Related content

For the purposes of this publication, a short-term assignment is defined as an assignment that lasts for less than 1 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.

Payroll considerations

Are there special payroll considerations for short-term assignments?

No.

Taxable income

What income will be taxed during short-term assignments?

If the assignee is treated as resident in the Isle of Man, they will be taxable on their worldwide income. If non-resident, however, they will be taxed on Manx-source income only.

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, Guernsey, Jersey, Luxembourg, Qatar, the Seychelles, Singapore, Bahrain and Malta may be protected under double-taxation treaties.

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

Assignees from other countries/jurisdictions will not have any treaty protection.

Disclaimer

All information contained in this publication is summarized by KPMG LLC, the Isle of Man member firm affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity, based on Isle of Man tax legislation, guidance published by the Isle of Man Income Tax Division and applicable case law as at the date of publication hereof.

© 2020 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal

Stay up to date with what matters to you

Gain access to personalized content based on your interests by signing up today

Sign up today