Isle of Man Signs Tax Co-Operation Agreement with Portugal

On 9th July 2009 the Isle of Man signed a Tax Information Exchange Agreement (TIEA) with Portugal which meets the OECD international tax standard on transparency and effective exchange of information, thus continuing the Isle of Man's policy of creating better economic and political relations with international partners.

The Isle of Man has now entered into 19 agreements meeting OECD criteria and expands on the Island's network of international tax co-operation agreements. Agreements have now been signed with European nations including the UK, France, Germany, the Netherlands, Malta, Denmark, Sweden, Belgium, Finland, Ireland, Estonia, Norway and Iceland as well as the US, Australia, New Zealand, Greenland and the Faroe Islands.

A joint declaration was also entered into with Portugal with the intention of agreeing a future comprehensive double taxation agreement.

15th July 2010