Island sign tax agreement with Italy

The Isle of Man has signed its 40th and 41st international tax agreements at a conference in London.

Italy and the southern African country of Lesotho are the latest to agree to double taxation and exchange agreements.

It marks the latest stage in an ongoing effort by the government to increase its international reputation.

Last week the Treasury Minister Eddie Teare said a similar agreement signed with the UK last year was instrumental in David Cameron’s positive remarks about the Island.

Lesotho is one of the most poverty-stricken countries in the world but becomes the third nation in the Southern African Development Community to enter into a tax agreement with the Island.

The terms of the deals can be viewed on the government’s website.