France has removed Bermuda from its tax blacklist, Finance Minister Bob Richards said today.

The move came after high-level talks between French officials and Finance Ministry staff.

Mr Richards said: “I was impressed by the goodwill shown by French officials in working with Bermuda officials to resolve the matter before the end of the year.

“We were confident that any entry on France’s list would be very short-lived as Bermuda is globally recognised as complying with the highest international standards on tax transparency and compliance.”

And he thanked Governor George Fergusson and UK Treasury staff, including Chancellor of the Exchequer George Osborne, for their backing for Bermuda’s bid to be delisted by the French.

Bermuda — alongside Jersey and the British Virgin Islands — were added to the French hit list of jurisdictions labelled as uncooperative by the French authorities in August.

The move meant that the French could impose a 75 percent withholding tax on French money coming to Bermuda.

Jersey has also been removed from the French blacklist for 2014.

The French Ministry of Finance said “jersey and Bermuda have been informed that they will be removed from the list for 2014, which means that the retaliation measures provided for by law will not be applied.”