The new Chief Minister of the Isle of Man Howard Quayle MHK has restated the Island’s commitment to tax co-operation and transparency at an OECD event in Paris today.

During a meeting with the OECD Secretary General Angel Gurria, Mr Quayle confirmed that the Isle of Man would continue to be a strong supporter of international tax standards.

The Chief Minister was in Paris for the Manx Government’s signing of a new OECD agreement providing for the automatic exchange of information provided by the largest multi-national companies to assist global tax administrations in ensuring that tax is paid where value is created.

Mr Quayle commented: ‘The Isle of Man is one of only 22 countries in the world to have received the highest compliance rating from the OECD and it was especially pleasing to hear the Secretary General acknowledge our achievement in very positive terms today.

‘This was a valuable opportunity to reassure Mr Gurria that although we have a new government in the Island our policy on tax transparency remains unchanged, and I think that message was well received.’

He added: ‘A truly global approach to tax transparency and information sharing is needed. As a well-regulated and internationally responsible country the Isle of Man is committed to playing its part in efforts to achieve this.’

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