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  1. ITV Report

IoM not on ECOFIN tax blacklist

Photo: ecofin.co.uk

The Isle of Man has not been named on a blacklist of non-cooperative tax jurisdictions.

The European Union's Economic and Financial Affairs Council announced 92 countries have been screened by a Code of Conduct team.

17 jurisdictions were blacklisted, including the United Arab Emirates, Barbados and Panama.

The Isle of Man is on a grey list, but Chief Minister Howard Quayle insists that his Government are committed to working alongside ECOFIN over the next year.

There were fears that the island would be listed following the BBC's Paradise Papers feature.

This Government will create an Island of enterprise and opportunity. We have a strong and diverse economy which we will grow, alongside encouraging a skilled workforce to relocate to the island. We can do that while ensuring we meet our EU and international commitments.

– Chief Minister Howard Quayle MHK