The Isle of Man Treasury has issued a response document following its consultation on enhanced tax requirements for accounting records (previous coverage 7.19.2016). The new requirements are meant to bring the Isle of Man in line with international standards and include the required retention of accounting records for five years. The requirements apply to:
- All corporate taxpayers that are:
- Resident in the Isle of Man for income tax purposes, and their officers; or
- Resident outside the Is…