IM Value-added tax (VAT) Rates Isle of Man — Value-added tax (VAT)

General VAT Rate Other Rates Local Currency
20% 5%, 0% Pound (GBP)

Isle of Man's general VAT rate is 20%, with other rates including 5% and 0% that can apply to certain transactions. The Value-added tax (VAT) is administered by the Isle of Man Customs and Excise Division (http://www.gov.im) in Douglas.

Isle of Man is a member of the Part of the European Union (EU) for customs and VAT matters but not an EU Member State trading bloc, which may affect international VAT collection and regulations.

Isle of Man's consumption tax is called the Value-added tax (VAT), which was introduced in December 1969.


Isle of Man VAT rates for 2017

Standard
20%
Reduced
5%
Other
Zero-rated, exempt and exempt with credit

Isle of Man VAT number format

Businesses in Isle of Man that are required to collect tax will be issued an identification number. Tax identification numbers can be verified with the Isle of Man Customs and Excise Division, and will follow a certain format. The VAT number format is GB 999.9999.99.

VAT return period

Quarterly

Monthly (if requested by a business that receives regular repayments)

Annual (on request if annual taxable turnover is less than GBP1,350,000)


Isle of Man Value-added tax (VAT) Thresholds

These are the revenue thresholds at which businesses in Isle of Man are required to start collecting and remitting tax.

Registration
GBP82,000; nil for non-established businesses
Deregistration
GBP80,000
Distance selling
GBP70,000
Intra-Community acquisitions
GBP82,000

Recovery of VAT by non-established businesses

Non-established businesses are small, unincorporated businesses that sell taxable goods and may consist of a single individual, or several. Non-incorporated businesses in Isle of Man are required to collect taxes from the consumer.


Isle of Man VAT Refunds

Many countries allow tourists, and others making purchases for export, to receive a VAT refund on exiting the country (or make purchases VAT free). While we don't have data on the Isle of Man VAT refund program, more info can be obtained from the Isle of Man Customs and Excise Division.


IM Value-added tax (VAT) Rates Isle of Man Tax Sources & Citations

  • EN: Isle of Man Value Added Tax
  • RU: НДС
  • CN: 增值税
Note: This page is intended to be a simple overview of Isle of Man's consumption tax structure, is provided as-is, and is not legal advice. Please let us know if any of the Isle of Man tax information on this page is incorrect or out of date.
Citations:
  1. Isle of Man Isle of Man Customs and Excise Division (http://www.gov.im)
  2. Ernst & Young global VAT tax study, Isle of Man (updated 2017)

  3. ← Back to World VAT Rates
** This Document Provided By SalesTaxHandbook **
Source: http://world.salestaxhandbook.com/im-isle-of-man