The Isle of Man government has announced the signing of a double
taxation agreement (DTA) with Luxembourg.
The DTA was signed in London on 8 April 2013 by the Isle of Man
Treasury Minister, Eddie Teare MHK and Ms Béatrice Kirsch,
Chargé d'Affaires a.i. of Luxembourg.
The DTA signed with Luxembourg is the Isle of Man's 10th
dedicated DTA and the 37th agreement that meets the OECD
international standard on tax cooperation and transparency.
Welcoming the signing, Minister Teare said: "Luxembourg is an
important financial centre and the Isle of Man Government welcomes
the signing of this Double Taxation Agreement. This is the
Island's 10th DTA and its 37th agreement that meets the OECD
international standard on tax co-operation and transparency. The
signing of this agreement demonstrates the Island's continuing
commitment to meet current international standards in tax
transparency, effective exchange of information and the elimination
of double taxation."
The DTA will comprehensively address taxation issues arising in
relation to the flow of business and any movement of people between
the Isle of Man and Luxembourg, and closely follows the model text
published by the OECD.
The text of the agreement can be viewed here.
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Dougherty Quinn (DQ) has a specialist team with
extensive experience of advising clients in relation to
international tax, securities and criminal investigations, TIEA
requests and multi-jurisdiction insolvencies in the Isle of Man and
the BVI.
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