The Isle of Man has announced the signing of a Tax Information Exchange Agreement (TIEA) and a joint declaration on future tax cooperation with the Czech Republic.
The TIEA is the Isle of Man’s 25th TIEA and its 29th agreement that meets the Organization for Economic Cooperation and Development international standard on tax co-operation and transparency.
The signing ceremony took place at the Czech Embassy in London between Anne Craine, the Isle of Man’s Treasury Minister, and Michael Zantovsky, the Czech Ambassador.
Craine commented: “The past month has seen the Isle of Man demonstrate very clearly the strength of its ongoing commitment to tax co-operation and transparency particularly with its neighbours in the European Union. The TIEA with the Czech Republic... is the Isle of Man’s 25th TIEA and is the second with an EU member state in two weeks. The Isle of Man now has agreements signed with 15 EU member states and is actively negotiating with others. Equally important was last week’s move by the Isle of Man to the full automatic exchange of information under the EU Savings Directive.”
Also signed at the 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 countries also stated their intention to commence negotiations to conclude a comprehensive double taxation agreement as soon as possible after the TIEA enters into force
The TIEA is the Isle of Man’s 25th TIEA and its 29th agreement that meets the Organization for Economic Cooperation and Development international standard on tax co-operation and transparency.
The signing ceremony took place at the Czech Embassy in London between Anne Craine, the Isle of Man’s Treasury Minister, and Michael Zantovsky, the Czech Ambassador.
Craine commented: “The past month has seen the Isle of Man demonstrate very clearly the strength of its ongoing commitment to tax co-operation and transparency particularly with its neighbours in the European Union. The TIEA with the Czech Republic... is the Isle of Man’s 25th TIEA and is the second with an EU member state in two weeks. The Isle of Man now has agreements signed with 15 EU member states and is actively negotiating with others. Equally important was last week’s move by the Isle of Man to the full automatic exchange of information under the EU Savings Directive.”
Also signed at the 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 countries also stated their intention to commence negotiations to conclude a comprehensive double taxation agreement as soon as possible after the TIEA enters into force
