Bermuda signs tax agreement with Aruba

By added on 03/11/2009

Bermuda's Minister of Finance the Hon. Paula A. Cox announced that Bermuda this week concluded a bilateral agreement with Aruba that provides for a full exchange of information on criminal and civil tax matters between Bermuda and Aruba.


The tax information exchange agreement (TIEA) marks Bermuda's eighteenth signed TIEA and further demonstrates Bermuda's commitment to substantially implement the internationally agreed tax standard.


Commenting on the Agreement, Minister Cox said, "It is a particular pleasure for me to sign this document with Aruba, an overseas territory of the Kingdom of Netherlands, following our signing with the Netherlands on June 8th, which itself marked our 12th signed TIEA.


“Our TIEA with the Netherlands satisfied the Organization for Economic Cooperation and Development (OECD) standard and resulted in Bermuda being the first country to ascend to the white list from the grey list. Bermuda now having concluded a TIEA with Aruba today, and with Netherlands Antilles on September 28th, draws Bermuda that much closer to the Netherlands and its overseas territories."


Bermuda presently has agreements with the United States, United Kingdom, Australia, New Zealand, the Nordic Group (including Denmark, Finland, Iceland, Norway and Sweden and their associated territories the Faroe Islands and Greenland), Germany, The Kingdom of the Netherlands, Ireland, Netherlands Antilles, and Mexico.