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Tax Agreements with Bahrain and Mexico come into force

Thursday, 8 March 2012

The Isle of Man’s Double Taxation Agreement (DTA) with Bahrain enters into force today (8 March 2012) and the Island’s Tax Information Exchange Agreement (TIEA) with Mexico entered into force on 4 March 2012.

The DTA with Bahrain was signed in Bahrain on 3 February 2011 by H. E. Shaikh Ahmed bin Mohammed Al-Khalifa, Bahrain’s Minister of Finance, and the then Treasury Minister, Anne Craine MHK.

The TIEA with Mexico was signed by Mexico’s Minister of Finance and Public Credit, Ernesto Javier Cordero Arroyo, in Mexico City on 18 March 2011 and by Mrs Craine, in Douglas on 11 April 2011.

The Isle of Man ratified both agreements in 2011. The Mexico TIEA was ratified at the June 2011 sitting of Tynwald and the DTA with Bahrain at the December 2011 sitting.

The Bahrain Ministry of Finance and the Mexican Ministry of Foreign Affairs have now confirmed that they have completed their own ratification procedures and the agreements have therefore entered into force.

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