OBA Leader: ‘Disappointed at Bermuda’s Inclusion on EU Non-Cooperative Tax Jurisdictions List

• The following statement was released by Opposition Leader Craig Cannonier – One Bermuda Alliance at noon March 13, 2019

“The One Bermuda Alliance is disappointed at Bermuda’s inclusion in the EU list of non-cooperative tax jurisdictions. Bermuda has a stellar track record of compliance, including passing the stringent Solvency II requirements.  Bermuda has also been extremely co-operative with the EU in this process.

“The Government disclosed that it missed an EU Deadline.  This is unfortunate, because it will likely take time for Bermuda’s improper inclusion in the EU list to remedied.  Although the EU decision is regrettable, it does appear to be based only on a technical failure, rather than a substantive complaint by the EU.

“The Opposition stands ready to help the Government to do whatever is necessary to resolve this issue, so that Bermuda can continue to be recognized by not only the EU, but the world, as an extremely well regulated international financial jurisdiction.”