The claim has been made that the Isle of Man is no longer a tax haven because it has signed a new information sharing and disclosure deal with the UK.
I welcome that deal. It is a step in the right direction. But to suggest that the Isle of Man is no longer a tax haven is absurd. It is for France, Germany, India and Brazil still. And the vast majority of other countries in the world too. A couple of unilateral deal does not stop a place being a tax haven. For those other countries the Isle of Man still operates the impenetrable and deliberate veil of secrecy that necessitated this deal with the UK. That is deliberate. So too is its continuing tax haven status. The claim it is no longer a tax haven is just nonsense.