A raft of new tax agreements with Nordic countries could be economically beneficial to the Isle of Man in the long term.
That's the view of Treasury Minister Allan Bell (pictured), who says the Island now has its own 'international personality', which means it can negotiate its own taxation agreements bi-laterally with other nation states.
In future, foreign nationals working in the Island will also be taxed here, avoiding double taxation.
Mr Bell says historically the Nordic countries, especially Norway, Finland and Sweden, have been fierce opponents of offshore jurisdictions.
But that stance has softened, as the Nordic Council itself approached the Island to reach a settlement:
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