Major report praises Island's tax dealings

The OECD Global Forum on Transparency and Exchange of Information for Tax Purposes presented its 2012 Progress Report to a meeting of the G20 counties in Mexico.

The Isle of Man was revealed as one of only 12 reviewed countries found to have all elements of effective tax information exchange in place.

They sit alongside Australia, China, France and Italy to name but a few.

Chief Minister Allan Bell welcomed the report saying he’s pleased that the efforts to develop an effective regulatory framework for information exchange have been recognised.