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Treasury welcomes Isle of Man progress on tax information exchange

The UK Treasury has welcomed the Isle of Man’s progress in agreeing 14 tax information exchange agreements and has called on other jurisdictions to follow its lead.

The Treasury says it recognises the island’s commitment to international standards of anti-money laundering legislation and practice, counter terrorist financing legislation and financial regulation, and its participation in international efforts to combat financial crimes.

Treasury financial secretary Stephen Timms says: “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”.

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