UK Treasury Recognition of Progress by Isle of Man on Tax Information Exchange Agreements

An announcement has been made by the United Kingdom HM Treasury recognising the Isle of Man's commitment to the Organisation for Economic Co-operation and Development's (OECD's) internationally agreed standard on exchange of information in tax matters and on the Isle of Man's ongoing progress in signing Tax Information Exchange Agreements (TIEAs).   HM Treasury has also welcomed the commitment made by the Isle of Man to international standards of anti-money laundering legislation and practice, counter terrorist financing legislation and financial regulation, and the effort made in its participation in international efforts to combat financial crimes.

Financial Secretary to the Treasury, Stephen Timms, commented:

"I warmly welcome the Isle of Man's progress in agreeing Tax Information Exchange Agreements, with 14 signed so far.  The Isle of Man's firm commitment to enhanced transparency and exchange of information in tax matters is very encouraging, and I call on others to heed their example".  

For a full transcript of the notice follow http://www.hm-treasury.gov.uk/press_45_09.htm.