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Whiter than white
June 19th, 2009
BERMUDA, a British territory in the North Atlantic, proudly announced this month that it had made it on to the OECD’s white list of benign tax regimes. That puts it among the countries that have “substantially implemented” internationally agreed tax standards, as monitored by the OECD, a club of industrial nations. Since January 2007 a stampede of offshore tax havens, many of them British one way or another, have rushed to sign enough bilateral tax-information exchange agreements, known as TIEAs, to get on the white list. The arbitrary threshold is 12.
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