The Double Taxation Relief (Isle of Man) Order 2016

Draft Order in Council laid before the House of Commons under section 5(2) of the Taxation (International and Other Provisions) Act 2010, for approval by resolution of that House.

Draft Statutory Instruments

2016 No. 0000

Corporation Tax

Income Tax

The Double Taxation Relief (Isle of Man) Order 2016

Made

***

At the Court at Buckingham Palace, the *** day of ***

Present,

The Queen’s Most Excellent Majesty in Council

A draft of this Order was laid before the House of Commons in accordance with section 5(2) of the Taxation (International and Other Provisions) Act 2010(1) and approved by a resolution of that House.

Accordingly, Her Majesty, in exercising the powers conferred upon Her by section 2 of the Taxation (International and Other Provisions) Act 2010, by and with the advice of Her Privy Council, orders as follows—

Citation

1.  This Order may be cited as the Double Taxation Relief (Isle of Man) Order 2016.

Double taxation arrangements to have effect

2.—(1) It is declared that there has been made with the Government of the Isle of Man—

(a) the Exchange of Letters set out in Part 1 of the Schedule to this Order, and

(b) the Arrangement referred to in the Exchange of Letters, as set out in Part 2 of that Schedule, which varies the arrangements set out in the Schedule to the Double Taxation Relief (Taxes on Income) (Isle of Man) Order 1955(2), as amended by the arrangements set out in—

(i) the Schedule to the Double Taxation Relief (Taxes on Income) (Isle of Man) Order 1991(3),

(ii) the Schedule to the Double Taxation Relief (Taxes on Income) (Isle of Man) Order 1994(4),

(iii) the Schedule to the Double Taxation Relief and International Tax Enforcement (Taxes on Income and Capital) (Isle of Man) Order 2009(5), and

(iv) the Schedule to the Double Taxation Relief and International Tax Enforcement (Isle of Man) Order 2013(6),

with a view to affording relief from double taxation in relation to income tax or corporation tax and taxes of a similar character imposed by the laws of either party.

(2) It is further declared that it is expedient that the Arrangement should have effect.

Name

Clerk of the Privy Council

Article 2

SCHEDULE

PART 1

EXPLANATORY NOTE

(This note is not part of the Order)

The Schedule to the Order contains an Exchange of Letters between the United Kingdom and the Isle of Man concerning an Arrangement amending the 1955 Arrangement between the two parties for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, which was scheduled to the Double Taxation Relief (Taxes on Income) (Isle of Man) Order 1955 (S.I. 1955/1205) and subsequently amended in 1991, 1994, 2009 and 2013. The Schedule also contains the text of the Arrangement referred to in the Exchange of Letters.

Article 2 provides that it is expedient that the Arrangement should have effect. The Arrangement relates to the avoidance of double taxation and varies the arrangements set out in the Schedule to the Double Taxation Relief (Taxes on Income) (Isle of Man) Order 1955, as amended.

The Arrangement will enter into force on the date of the later of the notifications of each territory of the completion of its legislative procedures. It will take effect in the United Kingdom and the Isle of Man from 16 March 2016.

The date of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.

A Tax Information and Impact Note has not been produced for the Order as it gives effect to a previously announced policy to enact a double taxation agreement.

(1)

2010 c. 8.

(2)

S.I. 1955/1205.

(3)

S.I. 1991/2880.

(4)

S.I. 1994/3208.

(5)

S.I. 2009/228.

(6)

S.I. 2013/3148.