Contact: Dougherty Quinn (Isle of Man)
The Isle of Man continues to promote its economic and taxation cooperation scheme with other countries by signing a tax information exchange agreement (TIEA) with Switzerland. This brings the total number TIEAs signed by the Isle of Man to twenty nine.
The agreement was signed during a ceremony in London on 28 August 2013, by Frank Grütter Chargé d’affaires a.i. of Switzerland and Eddie Teare MHK, the Isle of Man’s Treasury Minister.
The Isle of Man is a leading jurisdiction in terms of the number of bilateral cooperation agreements it has concluded in the area of tax information exchange. The Island has thirty nine tax cooperation agreements which incorporate the Organization of Economic Cooperation and Development (OECD) international standard on tax transparency and information exchange.
Minister Teare said:
“The Isle of Man Government welcomes the signing of a Tax Information Exchange Agreement with Switzerland, which I understand to be Switzerland’s first. I am delighted that the Island is a party to such a significant event. The signing of this agreement demonstrates the Island’s continuing commitment to meet current international standards in tax transparency and effective exchange of information.”
The text of the agreement can be viewed here.
DQ’s Expertise
Dougherty Quinn (DQ) has a specialist team with extensive experience of advising clients in relation to international tax, securities and criminal investigations, TIEA requests and multi-jurisdiction insolvencies in the Isle of Man and the BVI. For further information on Isle of Man matters, please contactTom Maher, Giles Hill, Donna Matthews or Annemarie Hughes. For more information on BVI investigations or disclosure requests, please contact head of DQ’s BVI law practice, Stephen Dougherty.
