The secretary general of the Organization for Economic Co-operation and Development (OECD) recently commended the Isle of Man, Jersey, and Guernsey for the progress they have made towards increasing tax transparency. He also said during a debate at the European Competition Forum in Brussels that he has “received a number of commitments directly from the Crown Dependencies” since the G8 Summit in Loch Erne in 2013.
The chief minister of the Isle of Man, welcomed secretary general’s endorsement, noting that the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes last year awarded the island the top “compliant” rating. The minister confirmed the support of the Isle of Man for the creation of a single international standard on the exchange of tax information.