The Isle of Man 2024-25 Budget was delivered on 20 February 2024. An overview of the budget measures from the Treasury includes the following main taxation and national insurance measures:
Taxation
- The higher rate of income tax will increase from 20% to 22% with the additional income being ring-fenced for the Island's healthcare services;
- The rate of income tax on taxable income for non-resident individuals and non-corporate entities will also increase from 20% to 22%;
- A forthcoming tax s…