Bermuda Adopts The Multilateral Convention
The Ministry of Finance, in conjunction with the Cabinet Office, announced today [Sept 6] that the Government of Bermuda has written to the UK Foreign and Commonwealth Office [FCO] to request that the Multilateral Convention on Mutual Assistance in Tax Matters [Convention] include Bermuda, at the earliest possibly moment, following a decision made by Finance Minister Bob Richards.
A spokesperson said, “For developing countries, the benefit of signing the Multilateral Convention is that it allows them to sign one multilateral agreement and simultaneously create an exchange of information network with Bermuda, and many jurisdictions, rather than negotiating many individual tax agreements on a bilateral basis. Currently there are 56 jurisdictions that are signatories to the Convention”.
Finance Minister Richards said: “We are delighted to have become signatories to the Multilateral Convention which will further establish our leadership as a best practice environment for financial transparency and efficiency”.
Why wasn’t this done before????? Ah yes, of course…. the Cog liked her personal junkets to each separate country to sign a piece of paper!!!!
This was the same one they said they wont be signing in march eh?
The one they said they would take time to consider rather than being rushed to sign it before the G8…..no telling f it is the same.
Link?
Oh look, something sensible. Goodness, don’t make my heart flutter to much, I might start to think something’s actually being accomplished. How weird would that be!
plus 1
Cog signed TIEAs, Brother Bob’s signs MLTAs………..who signs off on my one (1) job out of the 2,000 promised?
A Government actually doing something rather than basking in self interest like the 14 years prior.