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Manx government
steps up tax cooperation campaign
International Tax Review July 1, 2009
The Isle of Man has continued its campaign to implement international tax
standards by signing a double tax agreement with Belgium.
The Isle of Man has continued its campaign to implement international tax
standards by signing a
double tax agreement with Belgium.
The Isle of Man double tax agreement, signed July 1, 2009, is the
Island's 16th agreement which meets the OECD's standards on international
tax transparency and co-operation. It is the second double tax agreement
signed with an EU member state. The Island signed a DTA with Estonia in May
this year.
The Isle of Man's Treasury minister, Allan Bell, said the agreement
represented "the start of a new phase in relations" between Belgium and the
Island.
The move follows
comments last month from John Spellman, director of Isle of Man Finance,
who said the Island would prefer to sign DTAs over information exchange
agreements.
The agreement with Belgium is the latest in a line of tax co-operation
measures the Island has introduced to strengthen its reputation as an
international business centre.
As well as the agreement with Estonia, the Manx government
said last month it would move to automatic information exchange under
the EU savings tax directive from July 1 2011.
The Island has signed 14 information exchange agreements with countries
including the US, the Netherlands, Germany, France and Australia.
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laws. © 2009 Euromoney Institutional Investor PLC.
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