AN agreement between the Isle of Man and France for the avoidance of double taxation regarding enterprises operating ships or aircraft in international traffic will come into force on January 14 2012.
It was one of two tax co-operation agreements with France signed in Douglas on March 26 2009 by Eric Woerth, the then French Secretary of State for the Budget, Public Accounts and Civil Service, and the then Manx Treasury Minister Allan Bell MHK.
Both agreements were ratified at the April 2009 sitting of Tynwald.
France completed its ratification procedures in relation to the first agreement, a tax information exchange agreement (TIEA), in 2009 and that agreement entered into force on October 4 2010.
The Embassy of the French Republic in London has now confirmed that France has completed its own ratification procedures in relation to the second agreement.
