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Bermuda’s economy will be strong enough to withstand new tax increases, Finance Minister Bob Richards claimed as he read his Budget Statement to the House of Assembly yesterday. Mr Richards announced a host of hikes, including the scaling back of con...

A US tax pressure group yesterday warned that President Obama’s budget proposals to end tax deductions for reinsurance payments to affiliated foreign companies and on overseas earnings would cost America more than three times what it would raise. The...

Would-be British Prime Minister Ed Miliband has sparked a storm of protest after he declared war on Bermuda and other Overseas Territories he branded tax havens. And yesterday the Bermuda Business Development Agency (BDA) added its voice to the choru...

Premier Michael Dunkley has fired back at Ed Miliband in the wake of the British Opposition leader’s threat to target Bermuda in a tax avoidance clampdown. Mr Miliband said over the weekend that a Labour Government would give overseas territories suc...

The facts would suggest that UK Opposition leader Ed Miliband’s threat to “blacklist” Bermuda appears to be designed more to win votes in the General Election in May than as a serious policy proposal. Among the multiple ironies surrounding his propos...

A fresh attack on a mainstay of Bermuda business in US President Barack Obama’s budget proposals has been brushed aside by Government. The presidents proposals include denial of tax deductions for reinsurance premiums paid to foreign affiliates and t...

WASHINGTON (Bloomberg) — President Barack Obama’s latest budget plan narrows the gap between the two parties on US business taxes, offering the glimmer of a potential agreement. His proposal would require US companies to pay taxes on foreign income, ...

BRUSSELS (Bloomberg) — Companies will be forced to disclose their ultimate owners on national registers in European Union nations as the bloc seeks to clamp down on tax dodging, money laundering and terrorism financing. European Parliament legislator...

About 99 per cent of the projected hotel tax revenue to be collected by the Bermuda Tourism Authority (BTA) is up-to-date. A BTA spokesman reported the numbers after the topic of hotel tax arrears was discussed in the House of Assembly. Tourism Minis...

The US Treasury estimated that it will cost foreign banks and financial institutions $8 billion to comply with Fatca. This amount does not take into account the amount of time and cost that US citizens will need to take to comply with the demands of ...

LONDON (Bloomberg) — The UK became the latest country to take aim at multinational tax avoidance, announcing a new levy on companies that “artificially” shift their profits into havens, a move prompted by growing international outrage at manoeuvres u...