THE Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with Mexico.

The TIEA was exchanged by post.

Ernesto Javier Cordero Arroyo, Mexico's Minister of Finance and Public Credit, signed it in Mexico City on March 18, and Manx Treasury Minister Anne Craine MHK signed in Douglas today.

This is the Isle of Man's 21st TIEA and its 25th agreement that meets the OECD international standard on tax co-operation and transparency.

Anne Craine said: "The signing of this agreement is an important step in building closer relations between Mexico and the Isle of Man.

"Mexico is an OECD member and G20 country so this is a significant addition to the Isle of Man's network of international tax agreements. 

"By continuing to expand our network of agreements we demonstrate the Isle of Man's commitment to tax transparency and effective exchange of information."