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Isle of Man notifies of mandatory electronic VAT filing

Isle of Man notifies of mandatory electronic VAT filing

Isle of Man notifies of mandatory electronic VAT filing

The Isle of Man’s Treasury has issued a notice that electronic VAT returns will be required from 1 April 2021.

From April 1, 2021, legal entities and individuals registered as VAT payers will be required to submit VAT returns online and make payments electronically.

Three-quarters of value-added tax (VAT) returns are currently filed electronically using the Isle of Man government’s online services.

The electronic declaration will become mandatory from April 1, after all, customers are ready for the upcoming implementation of an improved system with more online functionality.

Customers who are not currently registered for online VAT services will automatically receive an email with an activation code along with their next VAT return.

Instructions are available at gov.im/customs to guide clients through the registration process, and one-to-one lessons will be organized for those requiring additional assistance.

Finance Minister Alfred Kannan MHK stated:

“The changes announced today represent the latest trend in promoting more Isle of Man government services online.The administration is committed to improving services in this way, facilitating and accelerating the interaction of people and leading to more efficient use of employees’ time. “

Customers who are unable to make refunds or make payments electronically can apply for an exemption from this obligation.

We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.

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