As part of the Isle of Man Government’s continuing commitment to meet international standards in tax co-operation and transparency, a Tax Information Exchange Agreement (TIEA) has been signed with the Turks and Caicos Islands.
The TIEA was signed by His Excellency Peter Beckingham Governor Turks and Caicos Islands on 30 June 2016 and Hon. Eddie Teare, the Isle of Man’s Treasury Minister, on 2 August 2016.
Minister Teare said,
'The Isle of Man welcomes the signing of its 47th bilateral agreement that provides for exchange of information in respect of tax matters based on the OECD standard. The Turks and Caicos Islands, along with the Isle of Man and 94 other countries and jurisdictions, are committed to the international standard on exchange of information which now includes the implementation of the Standard for Automatic Exchange of Financial Account Information in Tax Matters, or more commonly known “CRS”, and this TIEA is an important element of the implementation of CRS in the Isle of Man.'
The text of the agreement can be viewed on the International Agreements page of the Isle of Man Treasury Income Tax Division’s website.