The Isle of Man has been awarded the top 'Compliant'
rating by the global body reviewing tax transparency around the
world.
The OECD (Organisation for Economic Co-operation and Development)
Global Forum on Transparency and Exchange of Information for Tax
Purposes today published ratings for the 50 countries reviewed to
date and the Island is one of only 18 to be awarded the top
rating.
The rating is based on a peer review assessment carried out by a
team of experts on behalf of the OECD's Global Forum, which
involves 120 countries including the Isle of Man.
The rating has been welcomed by Chief Minister Allan Bell MHK, who
commented:
'The rating announced today by the OECD's Global Forum puts
the Isle of Man into the premier league and yet again confirms its
position as one of the world's leading international business
centres.
'The standard required to achieve a top rating is very high as
can been seen by the number of jurisdictions that have not yet made
the grade. This is an achievement the Isle of Man is rightly proud
of. It is yet further evidence of the Island's international
standing and reputation and that the Island can no longer be
referred to as a "tax haven".'
The OECD ratings 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 more information on BVI investigations or disclosure
requests, please contact head of DQ's BVI law practice,
Stephen Dougherty.
22 November 2013
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