Bermuda didn’t do enough

(Royal  Gazette): Bermuda was "grey-listed" by the Organisation for Economic Co-operation and Development (OECD) because of its lack of follow-up action since the Island’s commitment to international tax transparency standards nine years ago. That was the explanation given by Jeffery Owens, the director of the OECD’s Centre for Tax Policy and Administration, who said Monday that the list was drawn up on a factual basis and that Bermuda had not done enough to reach the highest level. Speaking with The Royal Gazette at the OffshoreAlert Annual Financial Due Diligence Conference in Miami, Owens said the list had nothing to do with longevity of agreement to meet OECD standards, but was focused on actions.

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