Isle of Man and Switzerland sign tax exchange agreement

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The Isle of Man government has signed a tax exchange agreement with Switzerland, it has confirmed.

The deal is part of the Manx government's ongoing programme to develop closer economic and taxation co-operation with other countries.

The deal was signed in London by the island's Treasury Minister Eddie Teare and Switzerland's Charge d'Affaires Frank Grutter.

Minister Teare said he welcomed the signing of the agreement.

According to Mr Teare it is the island's 29th Tax Information Exchange Agreement and Switzerland's first.

He added: "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."

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