July 1: TIEA With Canada To Go Into Effect

June 6, 2011

Bermuda’s TIEA with Canada, signed last year, goes into full force on 1 July 2011.

Premier and Minister of Finance Paula Cox said, “The Canadian delegation attending the Global Forum for Transparency and Exchange of Information for Tax Purposes here in Bermuda has delivered this very welcome news of the Canada-Bermuda TIEA entering into force on 1st July.”

“The industry has been understandably looking forward to this news. Canadian companies are hugely involved in the captive, hedge fund and private equity areas of the International Business sector and more recently in the banking arena. Currently, there are 1,145 entities with Canadian interest, and this number is expected to grow exponentially.”

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