Officials from Bermuda and the Isle of Man signed a tax information exchange agreement on 29 May 2019. The agreement is the first of its kind between the two jurisdictions and will enter into force 30 days after the ratification instruments are exchanged. It will apply for criminal tax matters on the date of its entry into force and for all other covered tax matters for taxable periods beginning on or after 1 January 2016, or where there is no taxable period, for all charges to tax arising on or after 1 January 2016.