The Isle of Man has signed a tax information exchange agreement with Argentina, adding to its list of TIEA signings since 2002.

The agreement was signed by Argentina’s federal administrator, Ricardo Echegaray and Manx treasury minister Eddie Teare, at a ceremony held last week in London.

“The signing of this agreement is an important step in building closer relations between Argentina and the Isle of Man. Argentina is a G20 country and a member of the OECD global forum on transparency and exchange of information for tax purposes, so this is a significant addition to the Isle of Man’s network of international tax agreements,” Teare said in a statement.

“This agreement is the first between the Isle of Man and a South American country and its addition to our expanding network of agreements demonstrates the Isle of Man’s commitment to international standards of tax transparency and effective exchange of information,” Teare said.

This is the Isle of Man’s 27^th TIEA and also its 33^rd agreement meeting the OECD international standard on tax co-operation and transparency, the Isle of Man income tax division said in a statement.