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Further Update on Tax Co-Operation Agreements With Nordic Countries 9 September 2008

ON 30 October 2007, the Isle of Man concluded taxation and economic co-operation agreements with the seven members of the Nordic Council – Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden.

The Isle of Man ratified all of the agreements on 12 March 2008, and the Chief Minister, Tony Brown MHK, informed each of the Nordic Council countries that ratification had taken place.

Following receipt of the appropriate notifications, the agreements between the Isle of Man and Greenland entered into force on 11 April 2008, the agreements between the Isle of Man and Finland entered into force on 14 June 2008 and the agreements between the Isle of Man and Norway entered into force on 23 August 2008.

The Government of Denmark has now notified the Isle of Man that it has completed its ratification procedures. As a consequence, the agreements between the Isle of Man and Denmark will enter into force on 26 September 2008.

The Government of the Isle of Man looks forward to receiving ratification notifications from the remaining Nordic Council countries in due course.

The texts of each agreement can be viewed here

Malcolm Couch

Assessor of Income Tax

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