Finance Minister expects Bermuda to be removed from the EU list of non-cooperative jurisdictions

Monday, April 8, 2019

The Minister of Finance, the Hon. Curtis L. Dickinson, JP, MP, has completed his European visit after meetings with Ms. Lyudmila Petkova, Chair of the Code of Conduct Group on Business Taxation, as well as with  Finance Ministries of Germany and France. The meetings follow a productive and encouraging exchange between Premier David Burt and Pierre Moscovici, European Union Commissioner Economic and Financial Affairs, Taxation and Customs on Thursday, March 28th.

These meetings demonstrated the level of cooperation and the economic links between the European Union and Bermuda and reaffirmed that Bermuda should be removed from the EU list of non-cooperative jurisdictions for tax purposes at the earliest opportunity. The Chair of the COCG indicated that she expected the April COCG meeting to make a positive recommendation to the next Economic and Financial Affairs Council.

Minister Dickinson stated: “This round of meetings strengthens Bermuda’s close and productive relationship with the European Union. I have every expectation that Bermuda will be removed from the list of non-cooperative jurisdictions for tax purposes at the earliest opportunity and we look forward to continued engaging with the Code of Conduct Group in relation to Bermuda’s framework for collective investment funds. I want to thank once more all the stakeholders from industry for their unity and close cooperation during this EU process and encourage them to continue their valuable collaboration as we are approaching Bermuda’s removal from the EU list.”

 

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