Bank of Bermuda: No Major Changes Envisaged From OECD Deal

tax       2000-07-14 
The Bank of Bermuda has said that it forsees no major changes to its business practices in the wake of Bermuda's commitment to the OECD to conform to its requirements, and thereby avoid being 'named and shamed' by the OECD on its list of harmful tax havens. The bank has issued a statement following last week's speech by Finance Minister Eugene Cox which gave some indications of the ways in which Bermuda plans to co-operate with the Paris-based organisation.