As part of the Isle of Man Government’s ongoing programme of signing Double Taxation Agreements (DTAs) and Tax Information Exchange Agreements (TIEAs), the Isle of Man has signed a comprehensive DTA with Luxembourg.

The signing ceremony took place in London on 8 April 2013 between Eddie Teare MHK, the Isle of Man’s Treasury Minister, and Ms Beatrice Kirsch, Charge 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.”

The text of the agreement can be viewed on the International Agreements page of the Isle of Man Treasury Income Tax Division’s website at:
http://www.gov.im/treasury/incometax/sections/practitioners/internationalagreements.xml.