Manx 'should avoid G20 blacklist'

The Isle of Man has done enough to avoid being blacklisted as a tax haven at the G20 summit, according to the island's government.

Finance minister Allan Bell said the government has been working "assiduously" to prove the Isle of Man is not a tax haven.

He said: "In fact, we have signed more tax information exchange agreements than any small country in the world."

World leaders at G20 will issue a communique on tax havens on Thursday.

The G20 summit of world leaders is meeting in London to discuss plans to tackle the current economic crisis.

The Manx government has been working alongside the Organisation of Economic Co-operation and Development (OECD) to ensure the Isle of Man proves it provides transparent tax services.

The OECD partnership has led to the Isle of Man forge more than a dozen tax information exchange agreements with other countries, which could help the island stay off any blacklist.

Mr Bell said: "If the G20 is objective in what it's doing, the Isle of Man should not be too adversely affected by whatever outcome might eventually appear."

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