OECD: Full Bermuda Follow-Up Report
Bermuda has implemented two key recommendations made in a 2010 report by the Organisation for Economic Cooperation and Development [OECD] body which supervises transparency and the international exchange of financial information for tax purposes.
A new follow-up report released today [Apr. 5] by the OECD’s Global Forum says the island has “progressed significantly” in terms of bolstering its legal and regulatory frameworks to ensure Bermuda meets international tax transparency criteria.
The phase one “Supplementary Report and Peer Review” concludes that recent reforms to Bermuda’s legal and regulatory frameworks underscore the island’s “ongoing commitment to meet the international standards …”.
Bermuda’s phase two peer review will begin later in 2012.
The OECD Global Forum’s full report appears below:
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