HMRC recognises Bermuda Stock Exchange

With effect from December 4, HM Revenue & Customs (HMRC) has designated
Stock Exchange
(BSX) as a ‘recognised stock exchange’ under UK tax law and
BSX kusted securities will meet the HMRC interpretation of ‘listed’, according
to the Income Act 2007, as amended by Schedule 26 to the Finance Act 2007.

Also with effect from December 4, the BSX is also regarded as a recognised
stock exchange for inheritance tax purposes.

BSX regards its designation by HMRC as a recognised stock exchange as ‘a
significant development which expands its services to unprecedented levels’.

Greg Wojciechowski, BSX president and chief executive officer, said BSX
clients had asked for the exchange to seek the designation because they wished
to have their ‘investment universe of “qualifying investments” expanded or
wanted an alternative to the current listing venues for the listing of their
Eurobond or debt products.

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