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Chief Minister's pledge to tackle tax evasion

The chief minister has committed the Isle of Man to a key role in tackling global tax evasion.

Allan Bell and counterparts from other Crown Dependencies and Offshore Territories held talks with Prime Minister David Cameron at the Tax, Trade and Transparency mini summit in London yesterday.

It came ahead of the G8 gathering of world leaders in Northern Ireland next week, where combating tax evasion is high on the agenda.

Mr Bell pledged the Island's support for a three-point Action Plan, after what he called a 'constructive exchange of views' with the PM.

The plan includes a pilot initiative for the automatic exchange of tax information with law enforcement and tax authorities in the UK, France, Germany, Italy and Spain.

The Island's to join a multilateral convention on assistance on tax matters.

And Mr Bell has promised to publish a national action plan on establishing the beneficial ownership of Island-registered companies.

Speaking after the meeting in Downing Street Mr Cameron said the agenda had won wide support from the offshores:


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