The Isle of Man has signed a tax information exchange agreement (TIEA) with the Kingdom of Spain in London.
The agreement is part of the Isle of Man Government’s commitment to meet international standards in tax co-operation and transparency.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The pact was signed by José Manuel Gutiérrez Delgado, financial counsellor of the Embassy of Spain to the UK, and Eddie Teare MHK, the Isle of Man’s treasury minister.
The TIEA extends to the information held by banks, other financial institutions and any person acting as a representative or trustee and also includes information about the legal owner and effective beneficiary of companies.
The agreement allows for the exchange of information for tax purposes upon request between the two countries. This deal represents significant progress in terms of tax fraud prevention tools and will combat international tax fraud.
Teare said: "Spain is both a member of the European Union and the OECD and last year, like the Isle of Man, was one of the first countries to commit to sharing information in accordance with the OECD Common Reporting Standard.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"The signing of this TIEA is another important step in building closer relations between our two countries and will lead to Spain removing the Isle of Man from a "tax haven blacklist" established under Spanish law in 2006."
