4. Undertakings in a territory the capital of which is whote or partly owned or indirectly or under the control of one or more inhabitants of the other zone may not be subject, in the first zone, to a tax or requirement which is different or heavier than the taxation and related requirements to which other similar undertakings of the first zone are subject or may be subject. zone. Where a company is considered to be established in both territories, the competent authorities shall determine by mutual agreement the registered office of the company for the purposes of the contract, taking into account its place of effective management, the place where it was set up or otherwise created, and any other relevant factors. In the absence of an agreement, the undertaking shall not be considered to be established in one of the two territories in order to benefit from the advantages granted by the Treaty, with the exception of the advantages provided for in Articles 22 (elimination of double taxation), 24 (non-discrimination) and 25 (mutual agreement procedure). Information was exchanged with the United States (United States) with effect from 30 June 2015 as part of an agreement to improve international tax compliance and implement the Foreign Account Tax Compliance Act (FATCA). In addition to the national legislation of the Isle of Man, which provides for exemption from international double taxation, the Isle of Man has concluded double taxation treaties with certain other countries/jurisdictions in order to avoid double taxation and to allow cooperation between the Isle of Man and foreign tax authorities in the application of their respective tax laws. Additional information on taxation in that country may appear in general works that are not on this list. If you need help identifying available hardware, please contact the request team. Until recently, the Isle of Man had only one double taxation treaty that existed with the United Kingdom and entered into force in 1955. At the time of the letter (February 2020), 20 tax treaties between the Isle of Man and other territories are now in force. The countries are shown in the table below, at the same time as the year of entry into force of the last treaty in force. Learn about tax rates, the latest tax messages and information on double taxation treaties with our specialized online resources, guides and useful links.
2. The competent authority, if the objection appears to it to be justified and if it is not itself in a position to find a satisfactory solution, shall endeavour to resolve the matter by mutual agreement with the competent authority of the other region with a view to tax evasion which is not in conformity with this Agreement. . . .