Report: EU To Remove Island From Tax Blacklist

May 11, 2019 | 22 Comments

The European Union will remove Bermuda from their tax blacklist on May 17th, according to a report from Bloomberg.

The story said, “The European Union will eliminate Aruba, Bermuda and Barbados from its tax haven blacklist because they are changing their corporate tax laws.

“EU finance ministers will approve the removal at a meeting on May 17, based on documents obtained by Bloomberg News.”

This is in keeping with what Minister of Finance Curtis Dickinson said in Parliament yesterday, with the Minister saying that they believe that the EU will remove Bermuda from the tax blacklist on May 17th.

The Minister said, “We have every reason to believe that the EU Finance Ministers, on May 17, will remove Bermuda from Annex I of the list of non-cooperative jurisdictions in tax matters [the so-called “black list”].

“I should add that when Bermuda is removed from Annex I, we will be placed in Annex II of the EU list with three other jurisdictions [Bahamas, British Virgin Islands and Cayman Islands]. This is because of EU concerns regarding the need for a legislative framework for collective investment funds [CIVs] that meets their expectations.

“We have already committed to continue to cooperate with the EU with respect to the adoption, by the end of this year, of a proper legislative framework for collective investment funds. Bermuda officials have already engaged last month in a positive dialogue with EU representatives to finalize the scope of the required adjustments to our legislation.”

click here Bermuda EU List

Share via email

Read More About

Category: All, Business, News, Politics

Comments (22)

Trackback URL | Comments RSS Feed

  1. In my opinion, it COULD have been intentionally done.
    There are enemies on this island opposed to black rule…the P.L.P.
    That is true!!
    Many could be having anxiety over the P.L.P. winning the election, truthfully speaking!!

  2. Ok says:

    Ok now where are all of the OBA trolls now with their doom and gloom prophecies about the blacklist destroying Bermuda? Bunch of fear mongering and a storm in a teacup which is the OBA modus operandi.

    • Question says:

      Typical PLP. Their incompetence got us on the list in the first place, and now they want a pat on the back for sorting out the mess they created.
      It was a serious error. No one admitted responsibility, and no one lost their job. There is no accountability.

      • Ok says:

        And no impact to Bermuda you fear mongering troll!

        • Question says:

          Their incompetence risked the entire economy. They’re incompetent and complacent. They are a bunch of amateurs.

      • wahoo says:

        It was more than just incompetence there was sheer arrogance that went on here. We are in big trouble if we allow this to go on and the fact that we have people praising them for fixing this speaks volumes of the base and its’ understanding of the real world issues facing us. The taxpayer will never know the full cost of what this cost us in terms of future revenue due to lack of confidence in this ridiculous government.

        • Ok says:

          You fear mongers are all full of BS! There was no immediate or long term impact associated with this! Give us your specific details on what impacts resulted and we will believe you. Until then shut up!

        • mixitup says:

          Excuse you, this poster speaks for himself, not anyones “base,’ so let’s not invent opportunities to justify your warped mentality…If this debacle was the Gov’t's attempt at challenging the EU then bravo, but it did not work..What we need to understand is that we will forever be jumping through hoops with the EU, when does it stop? So blacklist to greylist? What do we give up next? Stop the in-fighting and get on-board with the answers or forever be licking water out of their bowl.

    • Vote no more says:

      So your defending them getting us on the blacklist, then praising them getting us off.
      Bermuda is in trouble..

    • Sandgrownan says:

      It was sheer incompetence of the PLP that got us there on the first place. And if you think it was a storm in a teacup, then you are very much mistaken.

      • Ok says:

        Aww like you never made a mistake? Point is no downside or damage done (despite all the fear mongering and business impact claims) and mistake has been addressed. Now take your Sky is falling negativity to your OBA meeting and talk amongst yourselves while we move on!

        • Toodle-oo says:

          You’re a fine one to be accusing people of being trolls. Is that a new word for you and you like throwing it around ?
          In the real world 25-11 means nothing .

          • Seriously says:

            It means EVERYTHING in Bermuda do get behind it or get out if the way!

        • Question says:

          There is “no downside”. You people are such effin idiots.

      • mixitup says:

        This one has such hatred, or is it terror, with a PLP Gov’t… What does this tell you? Do you believe that the PLP Gov’t put us on a blacklist? (excuse the pun) or was it the EU? You are ok with Bermuda being an EU Lap dog? Well if not then step up with a solution….You practically praise yourself as one of the smarter posters here.. But I have NEVER seen you step up with viable well thought-out solutions… You are here to spew venom where ever it may stick…With the belief that you are the only one who wants to see Bermuda do well. You may want to get that checked out.

        • Question says:

          Have you no idea about how we got on the blacklist?

        • LaV says:

          “This one has such hatred, or is it terror, with a PLP Gov’t… What does this tell you? ”

          The only thing they’ve ever accomplished, is discrimination.
          The plp and some of it’s followers are hypocrites. Hate filled, xenophobic, racist, homophobic hypocrites.

  3. Ringmaster says:

    Let’s all wait for May 18th and see if Bermuda was removed. At the moment there is nothing from the EU itself, just “reports” and the Bermuda Government saying it will happen.

    • Trufth says:

      and even then, we’ll be on the grey list. this is not good!

  4. Anthony Brannon says:

    Alls well that ends well….

  5. Richard A says:

    Glad to see the PLP cleaned up their own mess. Now lets see if they can actually do something productive

  6. LaV says:

    “. Now lets see if they can actually do something productive”

    20 years of xenophobic, homophobic racist rhetoric ought to tell you…they can’t do anything productive.

Leave a Reply