Island successfully removed from tax grey list
The chief minister says there's been a lot of 'behind the scenes activity' in order to facilitate the Isle of Man's removal from an EU grey list of non-cooperative tax jurisdictions.
The Island was placed on the list in 2017, shortly after the release of the 'Paradise Papers', when the EU announced a crackdown on countries which allowed so-called 'brass plate' companies.
But yesterday, the EU's Economic and Financial Affairs Council (Ecofin) confirmed the Isle of Man was one of 32 jurisdictions to successfully implement promised reforms by the end of 2018.
Howard Quayle says government has had a 'very proactive engagement' with Ecofin over the last 18 months: