Isle of Man Issues Release on Plans for Implementation of Pillar 2 Global Minimum Tax

On 20 May 2024, the Isle of Man Treasury issued a release on the Isle of Man's next step in implementing the Pillar 2 global minimum tax. This follows a joint statement issued on 17 May 2024 on a meeting held with Ministers from Guernsey and Jersey regarding each Island's implementation plans for Pillar 2, including a common timeline with introduction for accounting periods commencing on or after 1 January 2025.

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Isle of Man's next step in implementing OECD's Pillar Two global tax fra…