The Isle of Man's agreement with France for the avoidance of
double taxation with respect to enterprises operating ships or
aircraft in international traffic entered into force on 14 January
2012.
The agreement was one of two tax co-operation agreements with
France signed in Douglas on 26 March 2009 by Mr. Eric Woerth, the
then French Secretary of State for the Budget, Public Accounts and
Civil Service, and the then Treasury Minister, Mr. Allan Bell
MHK.
Both agreements were ratified at the April 2009 sitting of
Tynwald. France completed its ratification procedures in relation
to the first agreement, a tax information exchange agreement
(TIEA), in 2009 and as a consequence that agreement entered into
force on 4 October 2010.
The Embassy of the French Republic in London has now confirmed
that France has completed its own ratification procedures in
relation to the second agreement, an agreement for the avoidance of
double taxation with respect to enterprises operating ships or
aircraft in international traffic.
The Isle of Man has signed a total of 25 TIEAs (and additionally 4
Double Taxation Agreements), including agreements with seven out of
the world's 10 major economies. More specifically, it has done
so with all of the top five global economies - US, China, Japan,
India and Germany.
The negotiation, signing and ratification of TIEAs demonstrates the
Isle of Man's commitment to meeting agreed international
standards and to the principles of co-operation between countries,
transparency and effective exchange of information in tax
matters.
It also demonstrates its dedication to implementing the directives
of the Organisation for Economic Cooperation and Development
(OECD), which are widely viewed as the international standards for
effective tax relations between nations.
The full text of the agreement can be viewed here.
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