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Agreement on beneficial ownership signed with UK

Bell and Gauke meet in London

The Isle of Man has signed an agreement with the United Kingdom on providing information on the beneficial ownership of companies.

Chief Minister Allan Bell and Financial Secretary to the UK Treasury David Gauke met in London today.

The Manx Government will establish and maintain a central electronic register which will allow information to be given to law enforcement and tax authorities as quickly as within an hour in urgent cases.

There have already been discussions on the subject for some time but the deal comes a day after a statement in the House of Commons by UK Prime Minister David Cameron.

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