Chief Minister hopes tax arrangement will not having damaging effect
The Chief Minister says he is hopeful that new tax sharing regulation will not drive businesses away from the Isle of Man.
Allan Bell revealed last week that the Manx Government will be adopting tax information sharing arrangements with the UK and America in a bid to become more transparent.
It follows on from the FATCA intergovernmental agreement which is being negotiated with America.
Our government and the UKs will now adopt a reciprocal arrangement and will share information on tax residents on an annual basis.
Mr Bell says he is hopeful that it will be a fair playing field:
(PLAY AUDIO BELOW)
Allan Bell
Your browser doesn’t support HTML5 audio