IoM improves tax transparency with UK

The move will follow closely the Foreign Account Tax Compliance Act intergovernmental agreement currently being negotiated with the United States. It means that the Isle of Man government will work together with the UK government on a number of measures which will enhance tax transparency as part of their shared commitment to combat tax evasion and financial crime. The two governments will adopt new enhanced reciprocal tax information sharing arrangements, under which they will automatically exchange information on tax residents on an annual basis. The Isle of Man chief minister Al...