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IOM Government Welcomes OECD Dialogue

Tax-news.com

05 December 1999


The Isle of Man Government, which has consistently rejected suggestions that Isle is a tax haven, has welcomed the Organisation for Economic Co-operation and Development's (OECD) decision to focus on ensuring that global tax competition is fair rather than harmful.

Spokesperson for the Isle of Man Treasury John Cashen said last week that the Isle of Man is confident that its tax practices are competitive but fair: ‘We believe we meet all the OECD criteria for determining fair competition and, of course, our jurisdiction received independent endorsement earlier this year from the Edwards Report, commissioned by the British government.’

Mr Cashen also said the Isle of Man was happy to enter into dialogue with the OECD and was looking forward to the release of OECD member countries' self-reviews of their preferential tax regimes in April 2000: ‘We look forward to seeing these reviews made public so that non-OECD countries can take their lead from the OECD members themselves,’ he said.

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