Government progressing tax convention

The government is moving forward with a commitment to join the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

The convention, jointly developed by the OECD and the Council of Europe, helps increase the number of jurisdictions which take part in tax information exchange networks.

Subject to Tynwald approving legislation in October the convention should be applied in the Island from the beginning of next year.

Chief Minister Allan Bell says as a responsible international business centre it is important that the Island gives its support.