The Isle of Man has signed a double taxation agreement (DTA) with Luxembourg, which meets OECD international standard on tax co-operation, following Jersey’s announcement yesterday stating it had signing a DTA with Luxembourg as well.
Luxembourg’s DTAs with Jersey and the Isle of Man follow news late last week that five major European countries are about to enter into a "multilateral tax information exchange agreement" – including the UK.
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The DTA was signed at the Embassy of the Grand Duchy of Luxembourg in London by the Isle of Man’s treasury minister, Eddie Teare MHK, and by the Chargé d’Affaires, Béatrice Kirsch, for the government of Luxembourg.
Luxembourg was one of a few countries within the EU to say it also planned to open its financial system to further transparency.
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