THE Isle of Man has entered into two tax co-operation agreements with New Zealand.

One agreement is for the exchange of information with respect to taxes and the other is for the allocation of taxing rights with respect to certain income of individuals and to establish a mutual agreement procedure in respect of transfer pricing adjustments.

The Isle of Man had ratified the agreements at last October's sitting of Tynwald.

The High Commision in London has now confirmed that New Zealand has completed its own ratification procedures and as a result both agreements entered into force on Tuesday (July 27).

The texts of the agreements can be viewed on the international agreements page of the income tax division's website at

http://www.gov.im/treasury/incometax/sections/practitioners/internationalagreements.xml