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Isle of Man signs Double Taxation Agreements with Seychelles and Luxembourg

Posted by in Industry news on 18th April 2013

The Isle of Man has continued its programme of developing closer economic and taxation co-operation with other countries by concluding a Double Taxation Agreement (DTA) with the Republic of Seychelles and Luembourg.

The DTA with Seychelles was signed by Eddie Teare MHK, the Isle of Man’s Treasury Minister, in the Isle of Man on 25th March 2013 and by Pierre Laporte, the Seychelles’ Minister for Finance, Trade and Investment, in Seychelles on 28th March 2013, and exchanged by post.

Minister Teare said:
“The Isle of Man Government welcomes the signing of a Double Taxation Agreement with Seychelles.

Seychelles is a member of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes and the agreement, which is based on the OECD model text, will address taxation issues arising in relation to the flow of business and any movement of people between the Isle of Man and Seychelles.”

The DTA signing ceremony with Luxembourg took place in London on 8 April 2013 between Eddie Teare MHK, the Isle of Man’s Treasury Minister, and Ms Béatrice Kirsch, Chargé d’Affaires a.i. of Luxembourg.

Luxembourg is a member of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes and the DTA, which is based on the OECD model text, will address taxation issues arising in relation to the flow of business and any movement of people between the Isle of Man and Luxembourg.

Minister Teare said:
“Luxembourg is an important financial centre and the Isle of Man Government welcomes the signing of this Double Taxation Agreement. This is the Island’s 10th DTA and its 37th agreement that meets the OECD international standard on tax co-operation and transparency. The signing of this agreement demonstrates the Island’s continuing commitment to meet current international standards in tax transparency, effective exchange of information and the elimination of double taxation.”

Isle of Man Double Taxation Agreements
All Isle of Man Taxation Agreements can be viewed here

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