A 2012 agreement between Turkey and the Isle of Man allowing for exchange of information between tax authorities will enter into force on October 7, the Isle of Man government announced September 29.
The Isle of Man government said it received notice that Turkey completed its ratification procedures on September 7. The pact was ratified by the Isle of Man in November 2012 and Turkey was notified of the ratification the following month.
Tax information exchange agreements are entered into by governments to help prevent tax evasion.
The text of the tax information exchange agreement can be viewed on the Isle of Man government’s web site.