The chief minister has welcomed a letter from UK Prime Minister David Cameron calling on the Crown Dependencies to 'get their house in order' before the G8 debates tax evasion.
Mr Cameron has called on all the Overseas Territories and Crown Dependencies to improve the exchange of tax information with other countries and identify the beneficial owners of companies.
Allan Bell says the PM is pushing at an open door - as the Isle of Man already has legal regimes in place to ensure that information is available to the authorities.
Mr Bell claims the Island is well ahead of other jurisdictions in complying with global standards on tax transparency.
At a news conference this afternoon Allan Bell said the missive from Number 10 vindicates measures already taken to rid the Island of the 'tax haven' label:
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