Chief Minister pleased Island not on tax blacklist

EU concerns remain over "substance"

The Chief Minister says he's "very pleased" the Island has avoided being placed on a blacklist of countries who are not doing enough to fight tax evasion.

Howard Quayle adds that whatever is agreed in future should be a global solution - and not just something which applies to few countries.

There were concerns the Island would be targeted following the release last month of the Paradise Papers which made public some of the intricate ways the world's rich evade tax offshore.

Whilst the list of non-cooperative jurisdictions, approved by European Union finance ministers, does not include the Isle of Man, it has been placed on a grey list.

Speaking on Mandate this morning (Wed), Mr Quayle said the remaining concerns expressed by the EU code of conduct group centred around what they termed "substance".