International move towards transparency in tax affairs

Automatic exchange of information on tax issues will become the norm.

That's the belief of the Chief Minister as officers from the Isle of Man Treasury and from the Channel Islands head to London today (WED) to talk to UK Treasury officials.

The subject high on the agenda is the rumoured UK version of the United States Financial Transparency regulations,known as "FATCA".

The Observer and Financial Times have suggested such a measure will be included in the UK Chancellor's Autumn Statement.

Mr Bell says there is now an international move towards more transparency in tax affairs