As Richard Murphy has noted on his blog, the Treasury Minister of the Isle of Man, Allan Bell, has signaled that the small British territory will move adopt a standard of Automatic Exchange of Tax Information.  According to the Isle of Man Today:

At a[n] Organisation for Economic Co-operation and Development (OECD) Forum in Paris, Mr Bell will announce that the withholding tax for EU-residents with offshore bank accounts here will be scrapped from July 1, 2011 – and the automatic exchange of tax information introduced.

This is a great step for the Isle of Man.  Now we need to make sure that they follow through on it.

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