IoM-France TIEA Enters Into Force

by Jason Gorringe, Tax-News.com, London

14 October 2010

The Isle of Man government has announced the entry into force of one of two tax cooperation agreements signed with France on March 26, 2009.

The two agreements, for the avoidance of double taxation and a Tax Information Exchange Agreement (TIEA) were ratified by the Isle of Man, and the French authorities were notified of such on June 18, 2009.

The island has now been notified by the French Embassy in London that France has completed its own ratification procedures in relation to one of the agreements: for the exchange of information relating to tax matters between the Isle of Man and France, and as a consequence the agreement entered into force on October 4, 2010.

The agreement is the nineteenth concluded by the Isle of Man, reinforcing the island’s ongoing commitment to exceeding internationally-agreed standards in transparency and tax information exchange.

The other agreement, for the avoidance of double taxation with respect to enterprises operating ships in international traffic, still needs to be ratified by French authorities before it can become operational.

Recommended