Bermuda signs eight new tax exchange pacts

Bermuda has signed eight new tax information exchange agreements (TIEAs), bringing its total to 11.

In addition to existing agreements with Australia, the UK and the US, Denmark, Sweden, Finland, Greenland, Iceland, Norway, the Faroe Islands and New Zealand have now all entered into agreements with Bermuda.

Jeffrey Owens, director of the OECD’s centre for tax policy and administration, said the jurisdiction is an important financial centre that has played a constructive role in developing OECD standards.

'I am very pleased that Bermuda has taken another significant step in implementing the standards. I know that it is determined to implement the standards fully and that other agreements will follow shortly,' he said.

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