Tag: Tax agreements

OECD: “Tax Havens Need To Be Neutralised”

International leaders are moving closer to taking action on corporate tax avoidance – prompted in part by Google’s use of use of Ireland and the Netherlands to shift billions of dollars of earnings to Bermuda — despite challenges, a top official at the Organisation for Economic Co-operation and Development [OECD] said on Wednesday... Read more of this article

Bermuda Signs TIEA With Singapore & Brazil

[Updated] Today the Ministry of Finance announced the signing of a Tax Information Exchange Agreement [TIEA] with the Republic of Singapore. The signing took place at the Singapore High Commission in London. This TIEA solidifies Bermuda’s relationship within the Asian South Eastern Pacific region and allows for greater diversification of Bermuda’s... Read more of this article

PLP: ‘Suggestion Would Put Economy In Danger’

[Updated] The PLP said that a suggestion by Shadow Finance Minister Bob Richards would “put our economy in danger” and could end up with us being “deemed a tax haven” – while Mr Richards said the PLP deliberately distorted his words. “The PLP operatives will do whatever it takes to tear down anyone who questions... Read more of this article

Bermuda Signs Double Tax Agreement With Qatar

Last week Premier Paula Cox signed a Double Taxation Agreement with Qatar, saying “Today the Government of Bermuda lays down our trump card to further Bermuda as a western hub for the Islamic financial services industry. “The Double Taxation Agreement (DTA) signed today enters Bermuda among Qatar’s impressive DTA network of 50 DTAs and... Read more of this article

Premier Hails Bermuda’s OECD Peer Review

Premier and Minister of Finance Paula Cox yesterday [Apr. 8] expressed her pleasure at the results of the most recent assessment report of the Organisation for Economic Cooperation and Development [OECD] Peer Review Group [PRG]. A statement released said, “Bermuda was credited for legislative changes that have demonstrated progress and global... Read more of this article

India Sending Tax Officers To Offshore Centres

India — which signed a pact with Bermuda in 2010 to facilitate the exhange of information between the two countries on tax evasion — is planning a major crackdown on citizens who abuse offshore financial centres. New Delhi yesterday [Mar. 19] announced tax officers will be posted in offshore financial centres to spot suspicious transactions... Read more of this article

Qatar OKs Draft Bermuda Treaty

As the island continues its efforts to become the first Western sharia-compliant financial services hub, the oil-rich Persian Gulf state of Qatar yesterday [Jan. 26] approved a draft tax treaty with Bermuda. Qatar Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani chaired the Cabinet’s regular meeting when the Bermuda... Read more of this article

New Tax Agreements: Turkey & Korea

[Updated] Bermuda today [Jan. 23] signed Tax Information Exchange Agreements [TIEA] with both Turkey and the Republic of Korea. The agreement was sıgned by Mehmet Kilci, Presıdent of Revenue Admınıstratıon for Turkey and Premier and Finance Minister Paula Cox. A Government spokesman said the TIEA provides a full exchange of informatıon on crımınal... Read more of this article

Sundance Film’s Focus On Tax Avoidance

Victoria Bruce, one of the filmmakers responsible for a new documentary premiering at the Sundance Film Festival this month, was drawn to the project when she realised her tax bill was higher than those of multinationals including Google — which avoid US taxes on foreign profits using off-shore jurisdictions like Bermuda. Her documentary “We’re... Read more of this article

Cox: ‘Frank & Meaningful UK Talks’

Bermuda Premier Paula Cox said today [Nov.25] she welcomes the intention of the UK Coalition Government to engage a new partnership with the Overseas Territories and acknowledges the obligations on all parties within that relationship. The Premier concluded two days of discussions at the annual Overseas Territory Consultative Council [OTCC] in London... Read more of this article