IOM Now Has 42 Tax Agreements
A Double Tax Agreement signed between the Seychelles and the Isle of Man entered into force on December 16, 2013. This is the island's 42nd international tax agreement.
Isle of Man Treasury Minister Eddie Teare signed Tax Information Exchange Agreements with Italy and Lesotho in London on September 16, 2013.
The TIEA with Italy was signed by Pasquale Terracciano, Italian Ambassador in London, and the TIEA with Lesotho was signed by Mrs Maanna Mapetja, the Acting High Commissioner of the Kingdom of Lesotho in the United Kingdom.
Minister Teare said, "The Isle of Man Government welcomes the signing of the Tax Information Exchange Agreements with Italy and Lesotho. These agreements are the Island's 30th and 31st TIEAs and the Island now has 41 agreements that meet the OECD international standard on tax co-operation and transparency. Italy is the 17th EU Member State with whom the Isle of Man has signed an agreement that meets the OECD standard, whilst the agreement with Lesotho is the 3rd the Island has signed with Members of the Southern African Development Community and it demonstrates the Island's continuing support to the OECD's Global Forum commitment to sharing expertise and best practice on tax transparency and information exchange with developing nations."