IoM Tax Information Exchange Agreements In Force
by Jason Gorringe, Lowtax.net, London
21 September, 2016
The Isle of Man Government's agreements for the exchange of tax information with the British Virgin Islands, the Cayman Islands, and Romania have entered into force.
The agreements with the British Virgin Islands and the Cayman Islands provide for all forms of exchange of information, including automatic exchange of information under the OECD's Common Reporting Standard. The agreement with Romania provides for exchange of information on request. All of the agreements are based on the OECD Model.
Treasury Minister Eddie Teare said: "The Isle of Man is continuing to conclude agreements with all of its relevant partners to support exchange of information based on the international standard. The agreement with Romania provides for exchange of information on request and enhances our existing relationship with Romania under the Savings Tax Directive and the OECD Convention on Mutual Administrative Assistance in Tax Matters. The agreements with the British Virgin Islands and Cayman Islands provide for all forms of exchange of information and in particular will support automatic tax information exchange under the new Common Reporting Standard."
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