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Practice Note 158/09 - Isle of Man Pensions paid to Non-Residents 13 August 2009 The Income Tax Division of Treasury has today published a Practice Note relating to the taxation of Isle of Man pensions paid to non-residents. As part of its programme of developing closer economic and taxation co-operation with other countries, the Isle of Man has concluded new tax agreements with a number of other countries. Many of the new agreements provide that the Isle of Man can continue to tax pensions paid to a non-resident (i.e. there is no change to the current position) but some of the agreements provide that pensions should only be taxed in the recipient’s country of residence. This Practice Note explains how those agreements, which provide that a pension paid to a non-resident should only be taxed in the recipient’s country of residence, will work in practice. The Practice Note can be found here
Malcolm Couch Assessor of Income Tax More stories >>>
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