Hashtag: #TaxAgreements
Govt Signs Tax Agreement With United States
The Government of Bermuda has signed a tax agreement with the United States, a Country by Country Competent Authority Agreement. “This agreement signifies that the Government of Bermuda has satisfied the Internal Revenue Services’ [IRS] data safeguards review and complies with the Organization for Economic Co-Operation and Development [OECD]... Read more of this article
Bermuda Signs UK CBC Reporting Agreement
This morning [Nov 29], Premier and Minister of Finance David Burt signed an “important tax agreement with the United Kingdom, a Country by Country Competent Authority Agreement,” becoming the first Overseas Territory to sign. “This agreement will complete The Organisation for Economic Co-operation and Development [OECD] Base Erosion... Read more of this article
Poland Removes Bermuda From Its Blacklist
Deputy Premier and Minister of Finance Bob Richards announced today that the Embassy of the Republic of Poland in London confirmed this morning that Bermuda has been removed from the Polish domestic list of countries of non-cooperative tax jurisdictions [in the field of Corporate Tax] and stated that the Polish Ministry of Finance has contacted the... Read more of this article
Richards: EU Blacklist “Unjustified And Baseless”
[Updated] Deputy Premier and Minister of Finance Bob Richards said today [June 18] that the European Commission-published “blacklist”, as part of an action plan to crack down on multi-national companies trying to avoid paying tax, is unjustified and baseless. Countries were included on the list if 10 or more EU member states had them listed on their... Read more of this article
Argentina Asks Bermuda For Tax Information
Argentina has sent requests for information to tax authorities in the Virgin Islands, Uruguay and Bermuda, according to a Reuters report. This comes as Argentina wants HSBC Holdings Plc to repatriate some $3.5 billion that it says the bank’s Argentine branch moved offshore to help clients evade taxes and move capital abroad, the country’s... Read more of this article
ABIR Applauds US/Bermuda FATCA Agreement
Bradley Kading, President of the Association of Bermuda Insurers and Reinsurers [ABIR], praised an agreement signed by US Consul General Robert Settje and Bermuda Minister of Finance Bob Richards to implement the Foreign Account Tax Compliance Act [FATCA]. The agreement, which signals international cooperation on tax law enforcement and compliance,... Read more of this article
Video: US, Bermuda Sign FATCA Tax Agreement
Today [Dec 19] U.S. Consul General to Bermuda Robert Settje and Minister of Finance Bob Richards signed an intergovernmental agreement to implement the Foreign Account Tax Compliance Act [FATCA] to promote transparency on tax matters. Minister Richards said, “Bermuda is now among the leading small jurisdictions in the area of international cooperation... Read more of this article
Company Charged: Not Providing Tax Information
A company secretary appeared in Magistrates Court this morning [Dec 10] where she entered a not guilty plea for the company to charges alleging the company failed to provide information as required under the Tax Information Exchange Act 2005. As read out by the Senior Magistrate Archie Warner, the charge alleged that between August 2013 and October... Read more of this article
Bermuda Signs FATCA IGA Model 2 With UK
Minister of Finance Bob Richards yesterday [Nov 25] signed the UK FATCA Intergovernmental Model 2 Agreement, “IGA Model 2” with the United Kingdom. Signing on behalf of the UK was the Secretary to the Exchequer, the Hon. David Gauke. Minister Richards said, “The signing of IGA Model 2 is in keeping with the Government’s international tax strategy... Read more of this article
Bermuda Signs Tax Agreement With Poland
Minister of Finance Bob Richards today [Nov 25] signed a bilateral Tax Information Exchange Agreement [TIEA] with the Republic of Poland at the Polish Embassy in London. Minister Richards said: “Signing a TIEA with Poland has been a long time in the making and represents the beginning of an official exchange of information relationship with Poland... Read more of this article
Cameron Invites Territories To Pre-G8 Meeting
British Prime Minister David Cameron has asked senior ministers of ten overseas territories and crown dependencies – including Bermuda – to London on the eve of this month’s summit meeting of the eight largest industrialised nations to sign an international agreement to share tax information. Britain’s “Guardian” newspaper reported that... Read more of this article
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
