The Manx government is starting talks with the G8 nations, the world's leading economic powers, about the automatic exchange of tax information right across the world.
It's a move which is designed, in part, to confront the barrage of criticism which is expected to be directed towards offshore jurisdictions during the June G8 Summit meeting.
It's thought the Channel Islands will shortly make similar announcements.
The Isle of Man is already implementing automatic exchange with the United States and the United Kingdon.
There have been 'limited' talks so far with the Manx finance industry on this global 'pilot scheme'.
Could it mean lost business?
Chief Minister Allan Bell is hopeful it won't:
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