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Deloitte comments on Isle of Man decision to adopt tax information sharing arrangements

7 December 2012

The Isle of Man government has confirmed it will adopt tax information sharing arrangements with the UK government similar to FATCA rules being negotiated with the United States.

Chris Tragheim, tax partner at Deloitte, said:

“This is a significant step. While other jurisdictions will consider their position, this is the first time that a FATCA-style agreement has been proposed that does not involve the US.”

Ends

About FATCA:
The US Foreign Account Tax Compliance Act (FATCA) will require foreign (non-US) financial institutions to identify their US account holders and annually report them to the US Internal Revenue Service along with details of the accounts held and any transactions made during the year.

About Deloitte:
In this press release references to Deloitte are references to Deloitte LLP, one of the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

Media contacts

Name:
David Gwyer
Company:
Deloitte LLP
Job Title:
Phone:
+44 (0) 20 7007 9879
Email
dgwyer@deloitte.co.uk

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