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Isle of Man gets top tax rating

05.12.13

The Organisation for Economic Cooperation and Development (OECD) has awarded the Isle of Man its top rating for tax transparency.

A list of 50 countries and jurisdictions, all part of the Global Forum, were reviewed by the OECD and only 18 (including the Isle of Man) were assessed as 'compliant'.

The UK, USA, Italy and Germany are among the 32 countries to score lower than the Isle of Man.

"The rating announced today by the OECD's Global Forum puts the Isle of Man into the premier league and yet again confirms its position as one of the world's leading international business centres," said the Isle of Man's Chief Minister Allan Bell.

"The standard required to achieve a top rating is very high as can been seen by the number of jurisdictions that have not yet made the grade. This is an achievement the Isle of Man is rightly proud of. It is yet further evidence of the Island's international standing and reputation and that the Island can no longer be referred to as a 'tax haven'."

Four countries were deemed 'non-compliant' – Cyprus, Luxembourg, The British Virgin Islands and The Seychelles.

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