Hodge and Mitchell to visit Island

Monday meetings with local politicians

The chair and vice chair of the Westminster All Party Group on Responsible Tax will visit the Island on Monday.

Labour MP Dame Margaret Hodge and Conservative member Andrew Mitchell will meet the Council of Ministers, senior officials and members of the business community.

Both have for some time called for public registers of beneficial owners in British overseas territories and crown dependencies.

During the Sanctions and Anti-Money Laundering Bill debate in the House of Commons in April, the Isle of Man escaped the need to implement a public register unlike overseas territories.

Currently, the Isle of Man will share beneficial ownership information with relevant authorities within 24 hours and quicker if there is evidence of criminal activity.