As part of the Isle of Man Government’s ongoing programme of signing Double Taxation Agreements and Tax Information Exchange Agreement (TIEAs), Treasury Minister Eddie Teare MHK signed TIEAs with Italy and Lesotho today in London.

The TIEA with the Government of the Italian Republic was signed by His Excellency Pasquale Terracciano, Italian Ambassador in London, and the TIEA with the Government of the Kingdom of Lesotho was signed by Mrs Maanna Mapetja, the Acting High Commissioner of the Kingdom of Lesotho in the United Kingdom.

Minister Teare said, “The Isle of Man Government welcomes the signing of the Tax Information Exchange Agreements with Italy and Lesotho. These agreements are the Island’s 30th and 31st TIEAs and the Island now has 41 agreements that meet the OECD international standard on tax co-operation and transparency. Italy is the 17th EU Member State with whom the Isle of Man has signed an agreement that meets to OECD standard, whilst the agreement with Lesotho is the 3rd the Island has signed with Members of the Southern African Development Community and it demonstrates the Island’s continuing support to the OECD’s Global Forum commitment to sharing expertise and best practice on tax transparency and information exchange with developing nations.”

The text of the agreements can be viewed on the International Agreements page of the Isle of Man Treasury Income Tax Division’s website - http://www.gov.im/categories/tax,-vat-and-your-money/income-tax-and-national-insurance/tax-practitioners-and-technical-information/international-agreements/.