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IOM signs tax cooperation agreement with France

The Isle of Man has signed a tax information exchange agreement with France, the 12th signing with an OECD member country.

This latest agreement brings the island’s total number of TIEAs to 14, a quarter of the 51 agreements in existence globally and comes seven years after it signed its first agreement with the USA.

TIEAs deliver the OECD’s agreed international standard on tax transparency and exchange of information.

Also signed at Douglas today was an agreement for the avoidance of double taxation with respect to enterprises operating ships in international traffic.

Isle of Man’s Treasury Minister Alan Bell MHK says: “In addition to our agreement with France and the recent one with Germany, we are at advanced stages of negotiation with several other countries and will continue to strive for effective co-operation based on agreed international standards by developing, signing and ratifying further TIEAs.”

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