Richards appears on Sky
Finance Minister Bob Richards got some global exposure yesterday when he was interviewed on Sky News.
Mr Richards appeared on the channel’s flagship business programme Jeff Randall Live to discuss Bermuda’s decision to negotiate and sign a FATCA Intergovernmental Agreement (IGA) Model 2 with the US, the UK, and the G5 European Union countries once the G5 European Union Multilateral FATCA is established.
This agreement will essentially result in financial institutions in Bermuda automatically sharing the details of both British taxpayers’ investments located in Bermuda and also the details of persons who are subject to tax in the G5 EU countries under the proposed EU Multilateral FATCA.
The information would come directly from Bermuda financial institutions to the tax authorities in those countries.
The Minister spoke about the benefits of this decision for Bermuda, and what it might mean for various financial institutions.
Sky News reaches 103 million people across 115 countries.
The link to the interview is:
http://news.sky.com/story/1085917/tax-havens-open-doors-to-hmrc
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