The Isle of Man has issued a domestic top up tax cessation form for entities that are located in the Isle of Man that are intending to enter liquidation, dissolution or any other form of winding up, or otherwise cease to be located in the Isle of Man for DTUT purposes

On November 21, 2024, the Isle of Man Parliament passed the Global Minimum Tax (Pillar Two) Order 2024

Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in the Isle of Man for accounting periods beginning on or after January 1, 2025. Updated for the draft legislation issued by the Income Tax Division on October 24, 2024.

On October 24, 2024, the Isle of Man (‘IOM’) income tax division published the draft legislation to implement the IIR and QDMTT in the IOM. The draft legislation will be considered by the Parliament in November 2024.

On May 20, 2024, the Isle of Man Government issued a press release stating it intends to introduce a Qualified Domestic Minimum Top-Up Tax (QDMTT) with effect from January 1, 2025.