Island agrees tax avoidance scheme crackdown with UK

Treasury Minister Dr Alex Allinson has agreed to work with the UK to combat tax avoidance schemes.

He had a virtual meeting with UK Exchequer Secretary to the Treasury James Murray MP yesterday.

The talks included agreeing to crack down on those promoting the schemes, saying the UK and Isle of Man have a long-standing history of collaboration in the fight against tax avoidance and evasion.

And in a statement released afterwards, both committed to taking action to deter and disrupt promoters marketing tax avoidance schemes that threaten tax systems.