The Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with Switzerland.
The TIEA was signed during a ceremony in London last Wednesday (August 28) by Frank Grütter Chargé d’affaires a.i. of Switzerland and Eddie Teare MHK, the Isle of Man’s Treasury Minister.
Mr Teare said: ‘The Isle of Man Government welcomes the signing of a Tax Information Exchange Agreement with Switzerland, which I understand to be Switzerland’s first.
‘I am delighted that the island is a party to such a significant event. This is the island’s 29th TIEA and its 39th agreement that meets the OECD international standard on tax co-operation and transparency.
‘The signing of this agreement demonstrates the island’s continuing commitment to meet current international standards in tax transparency and effective exchange of information.’
The text of the agreement can be viewed on the international agreements page of the Isle of Man Treasury Income Tax Division’s website at: http://www.gov.im/treasury/incometax/sections/practitioners/internationalagreements.xml