Tax agreement between Bermuda and Netherlands

By added on 02/07/2009

Bermuda has now concluded a bilateral agreement with the Netherlands that provides for a full exchange of information on criminal and civil tax matters between the two countries.

The signing of the Tax Information Exchange Agreement, (TIEA), at the end of June marks Bermuda's twelfth signed TIEA satisfying the standard articulated by the G20 during its London Summit on April 2, 2009.

Bermuda may now claim its position amongst those jurisdictions that have substantially implemented the internationally agreed tax standard and will be added to the ‘grey list’.

Bermuda has a long-standing commitment to the principles of fair tax competition and international co-operation in tax matters that extends back to 1988 when Bermuda signed a TIEA with its largest trading partner, the United States of America.

Negotiations are also due to take place with Germany, Mexico and Canada in the near future while signing with Canada will take place later in the year after Canada concludes its ratification process.