TAX agreements between the Isle of Man and China and the Isle of Man and Japan have been ratified.

The Island's Tax Information Exchange Agreement (TIEA) with China will enter into force on August 14 and its TIEA with Japan will enter into force on September 1.

An Isle of Man Government spokesperson said: "The negotiation, signing and ratification of TIEAs demonstrates the Isle of Man's commitment to meeting agreed international standards and to the principles of co-operation between countries, transparency and effective exchange of information in tax matters."

The Island has now signed 29 agreements which meet the standards of the Organisation for Economic Co-operation and Development (OECD).