The Isle of Man government has announced the signing of a double taxation agreement (DTA) with the Republic of Seychelles.
The DTA was signed in the Isle of Man on 25 March 2013 by the Isle of Man Treasury Minister, Eddie Teare MHK and by Mr Pierre Laporte, the Seychelles’ Minister for Finance, Trade and Investment, in Seychelles on 28 March 2013, and exchanged by post.
The DTA signed with the Republic of Seychelles is the Isle of Man's 9th dedicated DTA and the 30th agreement that meets the OECD international standard on tax cooperation and transparency.
Welcoming the signing, Minister Teare said: “The Isle of Man Government welcomes the signing of the DTA with the Seychelles. Seychelles is a member of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.”
The DTA will comprehensively address taxation issues arising in relation to the flow of business and any movement of people between the Isle of Man and the Republic of Seychelles, and closely follows the model text published by the OECD.
The text of the agreement can be viewed here.
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