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Final Notifications of Tax Co-operation Agreements with Nordic Countries 5 December 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; - Finland entered into force on 14 June 2008; - The Faroe Islands entered into force on 3 August 2008; - Norway entered into force on 23 August 2008; and - Denmark entered into force on 26 September 2008. The Governments of Sweden and Iceland have now notified the Isle of Man that they have completed their ratification procedures. As a consequence, the agreements between the Isle of Man and Sweden will enter into force on 27 December 2008, and the agreements between the Isle of Man and Iceland will enter into force on 28 December 2008. The Government of the Isle of Man is therefore pleased to announce that by the end of 2008 the 28 taxation and economic co-operation agreements with the Nordic Council countries will have been ratified bilaterally and will in all cases be operational. The texts of each agreement can be viewed here. Malcolm Couch Assessor of Income Tax More stories >>>
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