IoM distanced from tax haven reputation

Twenty-four jurisdictions named in new data

Government has been dealt a boost as it tries to distance itself from the tax haven reputation.

New research has identified 24 jurisdictions matching that description - including the British Virgin Islands and Gibraltar.

Offenders have been branded 'sink' nations - places where a disproportionate amount of assets are hidden underneath the legitimate economy.

Advocate Paul Beckett explains why the Isle of Man doesn't fit the bill: