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Minister responds to Canada tax allegations

Can't comment on individual cases

The Island’s Treasury Minister says he can’t comment directly on allegations made by Canada’s national broadcaster about a controversial tax shelter scheme.

CBC plans to air a documentary entitled “Isle of Sham” claiming wealthy Canadians have been avoiding tax using Manx companies under a scheme run by KPMG Canada.

Eddie Teare MHK says confidentiality rules under our Tax Information Exchange Agreement with Canada means he can’t comment on individual cases.

But he says the Isle of Man deals with any such matters in what he calls “an appropriate and responsible manner”.

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