The Manx government is welcoming the Isle of Man's official inclusion on the OECD 'white list' of countries complying with the global standard for tax cooperation and exchange of information.
The list, produced following the G20 summit in London, places the Isle of Man in the top tier of jurisdictions, along with nations such as the United Kingdom, USA, Germany, France, Sweden and Ireland, which have 'substantially implemented the internationally agreed tax standard'.
The OECD has also drawn up a 'grey list' of 'tax havens' and 'other financial centres' that have committed to the standard but not yet substantially implemented, and a 'blacklist' of four jurisdictions that have made no commitment.
Marian Kenny asked Treasury Minister Allan Bell about the importance of the OECD's ruling in relation to the Isle of Man (play extended audio file):
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