Eastern promise as tax deals signed

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THE Manx Government has signed two more tax information exchange agreements with two more jurisdictions.

Treasury Minister Anne Craine MHK travelled to London last week to sign deals with Japan and Indonesia.

The TIEA with Japan was signed by His Excellency Keiichi Hayashi, the Japanese Ambassador, and by Mrs Craine at the Japanese Embassy.

Mrs Craine then signed a deal with Indonesian Ambassador, His His Excellency Yuri Octavian Thamrin, the following day.

IT means the Isle of Man now has 23 TIEAs and 27 agreements in total that meet the Organsation for Economic Co-operation and Development’s international standard on tax co-operation and transparency.

Mrs Craine said: ‘The Isle of Man has been committed to tax transparency and effective exchange of information for a long time.’

‘Less than three weeks ago the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published its report on the Isle of Man and concluded that our existing agreements are working effectively and efficiently in practice.

She added: ‘The Isle of Man has very good relationships with its existing exchange of information partners.

‘Last week’s agreements create the perfect opportunity to develop the relationship between the Isle of Man and its two new TIEA partners, Japan and Indonesia.’

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