Isle of Man signs agreements with Japan and Indonesia

Offshore Britain’s drive to establish agreements for exchanging tax information with as many jurisdictions around the world as possible shows no signs of slackening.

The Isle of Man Government has just signed two more Tax Information Exchange Agreement (TIEAs), this time with Japan and Indonesia.

These two new arrangements bring the Isle of Man’s total agreements that meet the OECD international standard on tax co-operation and transparency to 27, out of which 23 are TIEAs. The Island’s four double taxation agreements are with Estonia, Belgium, Malta and Bahrain.
 
Isle of Man Treasury Minister Anne 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.  The Isle of Man has very good relationships with its existing exchange of information partners and this 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.”
 
The text of the agreements can be viewed at:
http://www.gov.im/treasury/incometax/sections/practitioners/internationalagreements.xml