OBA ‘Disappointed’ Bermuda On EU Tax List

March 13, 2019 | 47 Comments

“The One Bermuda Alliance is disappointed at Bermuda’s inclusion in the EU list of non-cooperative tax jurisdictions,” OBA Leader Craig Cannonier said.

Mr. Cannonier said, “Bermuda has a stellar track record of compliance, including passing the stringent Solvency II requirements. Bermuda has also been extremely co-operative with the EU in this process.

The Government disclosed that it missed an EU Deadline. This is unfortunate, because it will likely take time for Bermuda’s improper inclusion in the EU list to remedied. Although the EU decision is regrettable, it does appear to be based only on a technical failure, rather than a substantive complaint by the EU.

“The Opposition stands ready to help the Government to do whatever is necessary to resolve this issue, so that Bermuda can continue to be recognized by not only the EU, but the world, as an extremely well regulated international financial jurisdiction.”

“Bermuda’s inclusion on the EU’s list of non-cooperative tax jurisdictions is only temporary,” Premier David Burt said in Parliament today, adding that in eight weeks Bermuda will have the opportunity to be removed from the list, and he expects that “this will be done as our existing laws meet the standard required by the EU.”

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Comments (47)

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  1. Awww says:

    Awww the OBA is disappointed. It’s like being in nursery school! Throw your OBA rattle out of the crib and cry instead of getting behind the issue and moving it forward. Things happen and mustakes are made and delays occur – it’s called life!

    • Question says:

      I thought it was quite restrained considering the enourmous incompetence displayed by the PLP government.

      • Resigning as Premeir because of JetGate is Disappointing

        • Come Correct says:

          Ewart Brown never resigned…

          • Eyes wide open says:

            LOL…….and the UBP change their name to oba to try and attract more black voters. Why would you change a name?????…. we all know that when the UBP was in charge the island was rolling $$$$$ in money.

            You and people like you claim the PLP is racist…..but the UBPoba started this game many years ago and still practice it today.

            The party uses front men and women claiming to be diverse when we all know it’s 95% w and 5% b. Stop the lies mate.

            Why the fox’s tail you think the polls gave you a 25 to 11? The people that you need to swing don’t trust UBPoba anymore.

            • Come Correct says:

              What are you on about? I’m voting plp next election but probably for different reasons than most.

              I was simply highlighting the hypocrisy of calling out jetgate.

            • Toodle-oo says:

              “The party uses front men and women claiming to be diverse when we all know it’s 95% w and 5% b. Stop the lies mate.”

              Flip the w and the b and you’re looking at the PLP !
              lol

        • Wahoo says:

          The fact that you walk among us is disappointing to me. Was listening to Dr. Original Jetgate on Sherrie show and he never apologized for his misgivings.

        • Yooooo says:

          You lot had a worse jetgate so stfu dummy

        • Question says:

          Not resigning despite potentially ruining the economy by incompetence is “disappointing”.

        • Anbu says:

          Ya that cost us zero dollars dumbs&@t! God u are so unintelligent. Pls refrain from assaulting everyones IQ anymore pls. How much is this gonna cost us oh great all knowing one?! Lmao. Pretty sure most 5 yr olds have a higher brain capacity than you. Lol. 25-11 tho right? Lmao. Dumb

    • Let’s Go Bermuda says:

      It’s called total incompetance…to passs of it as an acceptable mistake is NUTS!! This will cost ALL Bermudians and increase our cost of living as less companies and expats want to live here!!! SMH. Wake up!!

    • Jt says:

      What’s it called in Cayman and BVI? Stop being so malleable.

  2. PLP Amateur hour says:

    Pathetic response by the OBA

    • Question says:

      What is pathetic is the PLP government allowing this to happen in the first place.

    • red rose says:

      Reading between the lines, it is clearly a political response. They are probably waiting to see how this plays out.

  3. Ringmaster says:

    Disappointed is far too weak for an error that could have significant financial consequences. Only in Government could such incompetence not go unpunished. The PLP will need to concentrate on keeping those companies that are here to remain.

    • Awww says:

      Significant consequences? Like what exactly? You people make sh$& up all day long and fear mongering like the sky is falling! Well it is not and the Sun came up again today as promised. Get a life – this was a simple technical error that will nit result in any impact whatsoever!

      • Bermuda is on an international BLACKLIST says:

        our competitors are not.

        This is causing grave concern to our clients.

        This is not fiction, some are putting new things with Bermuda on hold.

        This has seriously moved the uncertainty needle.

        You can down play it in the local context but in the real world–this is a big deal.

        Sorry to rain on your ‘gosh shucks’ this to shall pass narrative. It will but there is a cost.

        Its a major screw up that never should have happened–FULL STOP

      • PLP Amateur hour says:

        Let me guess? You don’t work in IB and live off the dole aka your a civil servant of get some form of government compensation.

      • Jon Snow says:

        You ARE such a fool….
        Time will tell.

      • BermieBorn says:

        It’s clear you don’t work in the international business sector. Suggest you do some homework before making thoughtless and uninformed remarks.

      • Anbu says:

        Bootlickers all around lmao. Typical hypocrite response. As usual, the plp wants the oba to tell them how to do things cause ALL OF THEM are too stupid to figure it out themselves. Dumb dumb dumb. Maybe if the plp “knew” anything abt running a business we wouldnt be where we r. Lol. Oh the irony.

    • watching says:

      a bit melodramatic. it would be different if there was a questions about our legitimacy as a business centre etc. but the fact remains we were only listed as there was an omission that has now been rectified. is this the best situation we could be in? of course not, but it would be significantly different if we were blacklisted due to business practices and other evidence that we weren’t a cooperative jurisdiction. We are compliant now and all relevant documentation has been submitted.

      • Ringmaster says:

        Bermuda may be compliant, but it is on the blacklist until it is taken off. Bermuda does not dictate to the EU and it seems only the PLP is saying it’s temporary until May. It’s not the PLP’s decision and what if no meeting takes place in May? Should another “minor omission” occur that results in the rating agencies downgrading Bermuda, then many of the major IB companies have no option but to leave. That’s how IB works, and why “minor omissions” should never occur.

      • question says:

        This could threaten Bermuda’s economic survival. If not now, when, exactly, would you suggest that someone should actually be held accountable to do their frikkin job properly?

  4. How ironic for Cannonier to state this.
    OBA IS the worst government in the history of this country.
    Talk about JETGATE and YOUR involvement.
    Also, who really benefited for America Cup??
    Cannonier, grow up

    • Bermuda is on an international BLACKLIST says:

      lets look at what is going on today shall we?

      The OBA didn’t land the country in hot water.

      Its not a PLP versus OBA thing–look beyond the petty politics and see this for what it is–a major international threat to our international reputation.

      I know its hard when your team is on the loosing side of a situation but that’s life.

      We need to fix this. The GVT needs to stop playing little politics and tone down the arrogance/rhetoric toward the EU actions. It will not do any good, no matter what we want to believe they think we are wrong. Now all we can do is fix it.

      The EU have what we want–we need to rectify this then we can play the blame game after we are off the Blacklist.

      That simple.

    • interesting says:

      Lmao how are you still in denial about the America’s cup making Bermuda money (all of us). Drink your cool aid kid.

    • BermudaFirst says:

      If only we can look past what OBA did or did not do for you and your people , and hold the PLP responsible for the failure on this. I see more jobs lost as a result of this if the overseas company no longer want to do business with us. We need to be more aware of Burt’s arrogance and how it is will threaten our economy. This is really a bad look we never want to look like an uncooperative jurisdiction.

    • Enough BS already! says:

      This f&@ up isn’t Burtcoin’s fault….it’s YOURS…you voted for this s$&t…you F@#%ing OWN it…

    • Blinded by the stupidity says:

      You really have no clue. This Governments incompetence just put Bermuda on the blacklist and your taking about Jetgate. Please enlighten us as to what you think the consequence of Bermuda being the the EUs blacklist will be? I just want to see how much you understand about how ‘Bermuda’s economy works.

      • Awww says:

        Simple reply. No impact whatsoever and anyone who suggests there is – is a liar! No companies leaving in fact business is behind the Government on this!

    • prpoganda says:

      What a sad display of political propaganda. Just the other week HSBC paid for all of Burts travel for one of their events. No call for Jetgate there. And you still rant on about Americas cup which shows just how badly you are suffering from mental illness. It is sad. I feel sorry for you.

    • Anbu says:

      Oh u mean the”worst gov in history” that was actually improving our finances?! Look folks, looks like we got another Onion Juice here. Lmao. Ill gladly take the worst in history over the bunch of muppets running the show now. Hahahahaha that wouldnt suit your agenda tho would it? When are u blind faithfuls gonna get it through your thick skulls that the Plp are abt as useful as a doorknob on a tennis ball. Smh

  5. interesting says:

    Burt and Finance Minster whatever his name is needs to resign. this is a complete failure, even though the mistake was so juvenile. Typographical? with 3000+ civil servants you cannot fill in a form? RESIGN.

    • Come Correct says:

      “Whatever his name is” is Curtis Dickinson. He’s no Bob Richards…yet, but I believe he is one of the best finance ministers we’ve had in the last 20 years. He’s intelligent and clearly knows his way around the numbers. It’s unfortunate there wasn’t a cancelation for the bus he was thrown under.

  6. Wahoo says:

    Come on fintech!

  7. Pangaea says:

    There is only so much pink sand you can sweep under the carpet.

    You may fool some of the people some of the time, but ! you can not fool all the people all the time.

    ” You can spend a lifetime gaining a good reputation and loose it all at 3 .01 PM on a Friday afternoon.

    I wonder if they check their pay checks.

  8. Time Shall Tell says:

    Well, that was a serious drop of the ball to only be disappointed, I after so much work has been done to keep our reputation clean this is more than disappointing. Really Government should be apologizing to all of Bermuda for such a strong showing of incompetence and accountability should be enforced.

  9. Joe Bloggs says:

    “The Government disclosed that it missed an EU Deadline. This is unfortunate, because it will likely take time for Bermuda’s improper inclusion in the EU list to remedied. Although the EU decision is regrettable, it does appear to be based only on a technical failure, rather than a substantive complaint by the EU.”

    Would someone please tell me what “technical failure” Bermuda fell into? Or am I, as a mere voter, deemed too stupid to understand?

  10. spinspinspin says:

    This is a very calm and measured response, given the situation and incompetence on display in the governing body. Can you imagine the PLP’s response if this had’ve happened under OBA rule? They’d be marching in the streets!

    • Joe Bloggs says:

      Calm and measured? I would say wimpy myself.

    • Anbu says:

      Funniest think is, the oba wouldnt have made the mistake in the furst place. Hence all the smartass excuses by the ususal pee el pee muppets. Plp us the government of excuses.

      • Eyes wide open says:

        oba is UBP fact. Your leader is Craig Trump fact.

        Do I need to go any further with his jet gate $300k which the obaUBP never received.

        So who got the bribe….opps sorry I mean money!!!!

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