Treasury Minister issues overseas income warning

Tue, 20 Sep 2016

Treasury Minister Eddie Teare

The Treasury Minister is warning Manx residents against not declaring income in other tax jurisdictions.

The reminder comes following an announcement that the Isle of Man has signed tax information exchange agreements with the British Virgin Islands, Cayman Islands and Romania.

Eddie Teare warns that automatic exchange of information will be increasing from next year, with anyone caught failing to declare income facing a fine.

Full details of the latest tax agreements can be found on the Treasury's website.