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

The agreement was signed by the Island's Treasury Minister, Anne Craine MHK, and Nalin Surie, the high commissioner of India to the UK, on Friday at the Indian High Commission in London.

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

"The TIEA with India is the second agreement that meets the OECD international standard on tax co-operation and transparency that the Island has concluded this week and is further evidence of the Isle of Man's continuing commitment to tax transparency and effective exchange of information." 

This is the Island's 19th TIEA. The text of the agreement can be viewed here.