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Meeting international standards

 

The Isle of Man has been rated less secretive than the United States and the UK according to an organisation fiercely critical of the offshore jurisdictions.

The Tax Justice Network has in the past castigated low tax areas for shielding information about those with offshore bank accounts from tax authorities elsewhere. 

The group's now published its Financial Secrecy Index - a 'league table' of nations rated by their willingness to offer transparency.

Most secretive is Switzerland, with the US in sixth place and the UK rated 21st.

In 34th place on the list is the Isle of Man, as a result of tax information sharing agreements made with a growing number of countries.

Chief Minister Allan Bell says meeting international standards has been the Island's direction of travel for some time:  

 

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