The Isle of Man continues to promote its economic and taxation cooperation scheme with other countries by signing a tax information exchange agreement (TIEA) with Argentina. This brings the total number TIEAs signed by the Isle of Man to twenty seven.
The agreement was signed in London on 14 December 2012 by Dr. Ricardo Echegaray, Argentina's Federal Administrator and by Manx Treasury Minister, Eddie Teare MHK.
The Isle of Man is a leading jurisdiction in terms of the number of bilateral cooperation agreements it has concluded in the area of tax information exchange. The Island has thirty three tax cooperation agreements which incorporate the Organization of Economic Cooperation and Development (OECD) international standard on tax transparency and information exchange.
Welcoming the agreement, Minister Teare said:
"The signing of this agreement is an important step in building closer relations between Argentina and the Isle of Man. Argentina is a G20 country and a member of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, so this is a significant addition to the Isle of Man's network of international tax agreements. This agreement is the first between the Isle of Man and a South American country and its addition to our expanding network of agreements demonstrates the Isle of Man's commitment to international standards of tax transparency and effective exchange of information."
The text of the agreement can be viewed here.
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