VATupdate

Isle of Man: Increased Late Payment Penalties and Extended Final Return Deadline

Effective from 31 July 2025, new late payment penalties for VAT will increase, with penalties of 3% applied for payments overdue by 15 days, an additional 3% for 30 days, and a significant 10% for amounts unpaid after 30 days. From 1 July 2025, the...

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