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IoM Issues Update On Tax Agreements With Nordic Countries

by Jason Gorringe, Tax-News.com, London

11 August 2008

The Isle of Man government on Thursday provided an update on the tax and economic cooperation agreements that it has signed with the seven members of the Nordic Council – Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden.

In a statement, the Manx authorities explained that:

"The Isle of Man parliament, Tynwald, ratified all of the agreements on 12 March 2008, and the Chief Minister, Tony Brown MHK, informed each of the Nordic Council countries that ratification had taken place."

"Following receipt of the appropriate notifications from Greenland and Finland, the agreements between the Isle of Man and Greenland entered into force on 11 April 2008 and the agreements between the Isle of Man and Finland entered into force on 14 June 2008."

"The Government of Norway has now notified the Isle of Man that it has completed its ratification procedures. As a consequence, the agreements between the Isle of Man and Norway will enter into force on 23 August 2008."

"The Government of the Isle of Man looks forward to receiving ratification notifications from the remaining Nordic Council countries in due course."

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