The two tax agreements concluded last July between the Isle of Man and New Zealand came into force on 27 July 2010, following their ratification by the New Zealand government.

One agreement relates to the exchange of information with respect to taxes and the other is for the allocation of taxing rights with respect to certain income of individuals, and to establish a mutual agreement procedure in respect of transfer pricing adjustments.

The Isle of Man has 19 Organisation for Economic Co-operation and Development-compliant tax agreements in place, 16 of which are Tax Information Exchange Agreements and three of which are Double Taxation Agreements. The island will move to automatic exchange of information with the European Union from 1 July 2011 as part of its application of the EU Savings Directive.