OECD welcomes Manx tax agreement

The Isle of Man has won high praise from one of its former enemies over a new tax information agreement.

The Organisation for Economic Cooperation and Development is welcoming the Manx agreement with Germany, which was signed in Berlin by Treasury Minister Allan Bell yesterday.

Director of the OECD’s Centre for Tax Policy and Administration Jeffrey Owens says "The time has now come for all jurisdictions that have made commitments to the international standards of transparency and exchange of information to follow the Isle of Man's lead in implementing them."

In the last two years, the Isle of Man has accounted for around a third of all such agreements signed with OECD countries.