Upcoming changes to the AEOI compliance program, and specifically the introduction of onsite visits
The Isle of Man Income Tax Division (ITD) on January 10, 2025, published a new guidance note, GN63, relating to upcoming changes to their automatic exchange of information (AEOI) compliance program, and specifically the introduction of onsite visits.
The purpose of the guidance note is to outline the ITD’s intended approach to onsite visits that will assist financial institutions to prepare for such a visit.
The aim of the AEOI compliance visits is to provide that Isle of Man entities are:
Read a January 2025 report prepared by the KPMG member firm in the Crown Dependencies