Premier, Minister To Attend Meetings In Europe

March 25, 2019

Premier David Burt and Minister of Finance Curtis Dickinson will lead a Bermuda team to Europe for a round of meetings aimed at laying the groundwork for Bermuda’s removal from the EU’s list of non-cooperative tax jurisdictions.

The Premier said, “Through our representatives in London and Brussels we have secured a number of important meetings in London, Paris, Berlin and Brussels this week. It is encouraging that EU leaders in this area have been receptive to our requests and I expect that this level of engagement will provide the ideal opportunity to make the case for Bermuda’s compliance with EU standards.”

The Government said that the “team is expected to meet with Robert Jenrick MP, Exchequer Secretary to the Treasury in London and once in Brussels with Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs as well as Ambassador Luminita Odobescu, Permanent Representative of Romania to the European Union. Additional discussions will be held with tax officials in both France and Germany as well as with the leadership of the Code of Conduct Group in Brussels.”

The Minister of Finance observed, “Our team will have the necessary technical support from the Ministry of Finance as well as the Bermuda Monetary Authority. Together we will be able to address any issues and confirm Bermuda’s position as a well regulated and above all a fully compliant jurisdiction as required by EU standards.”

The Minister added, “I have led a number of meetings with local stakeholders also and continue to work with them in mapping out our plans to achieve Bermuda’s removal from the List. Our industry partners have been a key part of our plans and we will continue to work closely with them.”

The Premier concluded, “We have wasted no time setting about this important task. Our economic substance regime is the law of the land today and there are opportunities presented for growth in existing sectors and the creation of additional economic activity in Bermuda.

“Our time in Europe will see us engage with the right people who advise and make decisions on jurisdictional issues like this. We believe we have a strong case to advance and we will do so directly this week.”

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Comments (17)

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  1. red rose says:

    At last we know something is happening! And at last recognition of this:
    “Our economic substance regime is the law of the land today and there are opportunities presented for growth in existing sectors and the creation of additional economic activity in Bermuda.”
    All we need to know now is the plan to make the most of these opportunities.
    I guess we are, at least, getting very close to knowing what Govt is doing!

  2. Comfortably numb says:

    Please tell me Flip Flop is not part of the ‘team’?

  3. Ringmaster says:

    Good luck. I hope Premier Burt has spent an immersion course to learn French. When talking in Europe, to speak in French goes a long way to get them on your side.

  4. Wahoo says:

    Trying to fix the damage that they caused….what a joke but good luck.

  5. Fooled me twice says:

    Here goes nothing.

  6. J J says:

    No doubt Pierre Moscovici will want to know how the Public Register of beneficial ownership is coming along and what measures we have taken to improve our regulatory framework since the paradise papers.

  7. Question says:

    Burt already promised we will be off the list “in eight weeks”. He said that on March 13.
    He made the mess. Now clean it up.

  8. Madge says:

    The Premier, should resign… he has allowed( he said the buck stops with him )in regards to Bermuda being on the black list..and all of his followes are being ever so quiet…I and others think we need a vote of no confidence with the present GOV…. come on people we see what these so called leaders all about.

    • sandgrownan says:

      He ought to have resigned when this first came to light. It’s a colossal failure and reeks of arrogance.

  9. Justasuggestion says:

    Why the need for all the high flying meetings to be removed from “non compliant jurisdictions list”. When
    2/3 weeks ago we where told it was a clerical error. Confused….

  10. pffft says:

    Thanks PLP! You’re the greatest!

  11. TopMon says:

    Nothing to worry about then. Top guys on the job.

  12. sandgrownan says:

    Burt’s arrogance will be his, and our, undoing.

  13. Triangle Drifter says:

    So, who screwed up? Burt is trying to sound good saying that the buck stops with him but who is the one down the food chain that did not do his/her job & proof read?

  14. Joe Bloggs says:

    *waives* Bye.

  15. Trump supporter says:

    So they are sending the same rocket scientist that got us blacklisted, to get off the black list.
    Just brilliant, who knows if we will getbthe truth or not.