Financial Transparency Coalition

An Op-Ed by the Task Force was published today by Politico on Mitt Romney, Bain Capital, and tax avoidance in Bermuda.

A while ago we pointed to a study by Misereor that had concluded, on the subject of double tax treaties (DTTs) and tax information exchange agreements (TIEAs), that Only 6 percent of DTTs show a signature of a Low Income Country (with an even smaller participation of 3 percent for Least Developed Countries). The situation with TIEAs is even worse: There is no single LIC (leaving aside LDC) as signing party of any TIEA documented on the OECD website. . . . While G20 and OECD are promoting DTTs and TIEAs as centrepieces of a global standard on transparency...

SAN JUAN, Puerto Rico - Bermuda has agreed to share tax information with Germany in another bid to distance itself from its tax haven status.

The Bermudan government said Monday that it has signed a tax information-exchange agreement with the Netherlands which allows it to meet international standards on tax-haven transparency.