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Isle Of Man To Share Tax Info With India

by Amanda Banks, Tax-News.com, London

11 February 2011


The Isle of Man government has announced the signing of its nineteenth Tax Information Exchange Agreement (TIEA), with India.

The TIEA with India means that the Isle of Man has now signed 23 agreements that meet the Organization for Economic Cooperation and Development's international standard on tax co-operation and transparency.

The signing ceremony took place at the Indian High Commission in London between Nalin Surie, High Commissioner of India to the United Kingdom, and Manx Treasury Minister, Anne Craine.

Welcoming the signing of the agreement Craine said on February 4 that: “The signing of this agreement is an important step in building closer relations between India and the Isle of Man. The TIEA with India is the second agreement that meets the OECD international standard on tax co-operation and transparency that the island has concluded this week and it is further evidence of the Isle of Man’s continuing commitment to tax transparency and effective exchange of information.”

A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.asp
TAGS: Isle of Man | tax | offshore confidentiality | tax information exchange agreement (TIEA) | India | offshore | agreements

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