Bermuda snubs international tax agreement

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The UK government has signed a tax agreement with the Netherlands, but efforts to stop cross-border tax evasion received a setback earlier in June after Bermuda refused to sign a  multilateral agreement on sharing tax information.

Earlier in June, campaign groups called on prime minister David Cameron to use his constitutional powers to order Britain's overseas territories to comply, the Guardian reported. Cameron has made an agreement on tax transparency one of the central goals of the G8.

Downing Street said it was still hopeful that Bermuda would reconsider its public stance.

International agreement for sharing tax information between tax authorities is seen as the best way of tackling tax evasion and aggressive tax avoidance...

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