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Isle of Man: Substance requirements for certain tax resident companies

Isle of Man: Substance requirements

The governments of Isle of Man, Jersey, and Guernsey have been working together to address the concerns of the EU Code of Conduct Group regarding “economic substance.”


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As part of a review of over 90 jurisdictions, the EU Code Group concluded that the Isle of Man and the other Crown Dependencies were compliant with most of the EU principles of tax good governance, including the general principles of “fair taxation.” However, the EU Code Group did raise concerns regarding the lack of legal substance requirement for doing business in and through the respective jurisdictions.


Read an August 2018 report prepared by the KPMG member firm in Isle of Man

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