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Today’s Top Headlines

Isle Of Man, Spain To Exchange Tax Data

by Jason Gorringe,, London

09 December 2015

As part of the Isle of Man Government's continuing commitment to meet international standards in tax co-operation and transparency, a tax information exchange agreement (TIEA) has been signed with Spain.

The agreement was signed by José Manuel Gutiérrez Delgado, Financial Counsellor of the Embassy of Spain to the UK, and Eddie Teare MHK, the Isle of Man's Treasury Minister, at a ceremony held in London on December 3, 2015.

Teare said: "Spain is both a member of the European Union and the OECD and last year, like the Isle of Man, was one of the first countries to commit to sharing information in accordance with the OECD Common Reporting Standard."

"The signing of this TIEA is another important step in building closer relations between our two countries and will lead to Spain removing the Isle of Man from a 'tax haven blacklist' established under Spanish law in 2006. This recognition of our shared values and goals makes the TIEA a very significant addition to the Isle of Man's network of international tax agreements."

TAGS: Isle of Man | tax | tax information exchange agreement (TIEA) | law | offshore | agreements | Spain | Europe

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