Assessor of Income Tax Gateway

Overview

The Isle of Man Financial Services Authority has today issued a Consultation Paper (CP21-07) on proposed amendments to the exceptions from restrictions on disclosure of information to the Assessor of Income Tax.

Why your views matter

The consultation is relevant to persons and entities regulated by the Authority under the Financial Services Act 2008, the Insurance Act 2008 and the Retirement Benefits Schemes Act 2000, as well as persons and entities subject to oversight by the Authority under the Designated Businesses (Registration and Oversight) Act 2015.

What happens next

Following closure of the consultation period, the Authority will review the responses received and publish a Consultation Response document on the Authority’s website and the Isle of Man Government’s Consultation Hub.

Subject to any changes to the proposals that may be made as a result of responses received, it is intended that the draft legislation will be finalised for laying before Tynwald for approval in the first quarter of 2022 for commencement on 1 March 2022.