Continuing with its programme of developing closer economic and taxation co-operation with other countries, the Isle of Man has announced the signing of a Tax Information Exchange Agreement (TIEA) and a Joint Declaration with the Czech Republic.
This latest TIEA is the Isle of Man’s 25th and its 29th agreement that meets the OECD international standard on tax co-operation and transparency.
The signing ceremony took place at the Czech Embassy in London between Anne Craine MHK, the Isle of Man’s Treasury Minister, and His Excellency Mr Michael Zantovsky, the Czech Ambassador.
Also signed at the same ceremony was a joint declaration in which the two countries have stated their intention to continue negotiations on measures to alleviate undesired tax barriers and other obstacles of a discriminatory nature that may be included in their domestic legislation. The Isle of Man and the Czech Republic also stated their intention to commence negotiations to conclude a comprehensive double taxation agreement as soon as possible after the TIEA signed today enters into force.
Other countries the Island has signed TIEAs with include the US, France, New Zealand, China, Canada, India, the UK, Mexico and Iceland. The Isle of Man’s four double taxation agreements are with Estonia, Belgium, Malta and Bahrain.
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