Island signs tax agreements with 24th country

The Isle of Man has put its name to more tax agreements, this time with Poland.

Three documents cover the exchange of tax information as well as measures to avoid certain individuals and companies being taxed twice.

Those representing the Island at the Polish Embassy in London included Treasury Minister Anne Craine MHK and deputy assessor of income tax, Nicola Guffogg.

The Isle of Man now has agreements with 24 countries which meet standards set down by the OECD (Organisation for Economic Cooperation and Development).

There are 20 Tax Information Exchange Agreements, such as the one signed with Poland, and four Double Taxation Agreements, with Estonia, Belgium, Malta and Bahrain.

After the ceremony at the Polish Embassy Mrs Craine said: 'The Isle of Man remains committed to tax transparency and effective exchange of information particularly with its European neighbours. The signing of today's agreements with Poland also shows a desire to build closer relations between Poland and the Isle of Man, especially in relation to the Island's highly regarded shipping sector.'

(Pictured, left to right: Deputy assessor of income tax for the Isle of Man Nicola Guffogg; Treasury Minister Anne Craine MHK, and Her Excellency Barbara Tuge-Erecinska, ambassador of the Republic of Poland).