The Isle of Man Treasury today announced that Parliament has ratified the taxation agreements with the Nordic Council countries of Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden. Treasury Minister, Allan Bell MHK, signed the taxation agreements in Oslo on 30 October 2007.
All eight countries have agreed to strengthen and broaden their economic and trading links and to develop long term political relationships based on transparency and cooperation.
Treasury, says Chief Minister Tony Brown MHK, will now write to each of the Nordic countries to inform them that ratification has taken place. Chief Minister Brown said today, *“The Isle of Man has a thriving and varied economy that is underpinned not only by the government’s understanding of our international obligations as a small but significant member of the global financial community, but also by our commitment to give investors in the Island stability, confidence and an environment in which they can prosper.”* He added that the agreements with the Nordic Council countries further emphasise IOM’s proactive approach to international relations and international cooperation.
Treasury Minister Bell said he expects that the Isle of Man will be signing more international tax agreements in the near future and that, as with the Nordic agreements, there will be rapid movement tto bring them into force. *”As confidence in the Island grows, our people, businesses and country will flourish further.”*