The agreement was signed on 17 January 2011 in Douglas, Isle of Man by James Wright, the Canadian high commissioner to the UK, and by Isle of Man treasury minister, Anne Craine.

The Isle of Man has now concluded 18 TIEAs and 21 tax co-operation agreements in total.

“This is something of a milestone for the Isle of Man, being the twenty-first agreement we have concluded in compliance with the OECD international standard on tax co-operation and transparency. The island’s growing network of tax agreements around the world shows that we are serious about supporting global solutions and developing economic relationships,” said Craine.