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Isle of Man: Isle Of Man's TIEA With Argentina Now In Force

22 May 2013   (0 Comments)
Posted by: Author: Maher, T., Hughes, A. Hill, G.&Matthews, D
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Source: Mondaq (Dougherty Quinn)

The Isle of Man concluded a Tax Information Exchange Agreement (TIEA) with the Argentine Republic on 14 December 2012.

In January 2013, the Argentine Embassy in London confirmed that Argentina had completed its ratification procedures in relation to the agreement.

Following the February 2013 sitting of Tynwald, the Chief Minister, Allan Bell MHK, informed the Embassy that ratification by the Isle of Man had taken place. As a consequence, the agreement entered into force on 4 May 2013.

The Isle of Man has signed a total of 37 agreements which meet OECD standards; 27 TIEAs and additionally 10 Double Taxation Agreements.

The negotiation, signing and ratification of TIEAs demonstrates the Isle of Man's commitment to meeting agreed international standards and to the principles of co-operation between countries, transparency and effective exchange of information in tax matters.

It also demonstrates its dedication to implementing the directives of the Organisation for Economic Cooperation and Development (OECD), which are widely viewed as the international standards for effective tax relations between nations.

The full text of the agreement can be viewed here.



Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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