The Isle of Man has reassured the government that it maintains the highest standards in its capacity as a tax haven.

The announcement came as the tax haven released details of its response to a Treasury committee probe into offshore financial centres.

The Isle of Man's Chief Minister Tony Brown MHK said: 'We have demonstrated that the Isle of Man complies with the highest international standards of financial regulation, as confirmed by the IMF, and is acknowledged by authorities in the United States and elsewhere as an active partner in combating global financial crime.'

Members of the Treasury committee visited the Isle of Man on earlier this week as part of the probe.

'In our submission, and in our meetings with the committee, the Isle of Man Government has been able to show that the Island is at the forefront of small jurisdictions working with the OECD to improve the exchange of tax information,' Brown added.

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