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Bermuda sends more details about finance policies to EU

Bermuda has filed details of its finance policies to the European Union in a second bid to prove it is a clean tax country.

Finance Minister Grant Gibbons said the EU would use the information to prepare a report next year on "harmful tax measures''. He said the bloc had asked all member states to submit details of tax policies -- including the policies of dependent territories.

EU receives more documents Bermuda's file will go alongside dossiers from other British overseas territories before the EU makes decisions on which countries have "harmful'' tax measures.

Dr. Gibbons said: "The UK is responsible as an EU member state for an overall response that includes a section on the taxation policies of its overseas territories.

"It is important to understand that Bermuda's submission will be included with submissions from all other British overseas territories as part of an overall UK submission to the EU EcoFin Council later in November.'' It is the second time Government has been forced to hand over documents outlining Bermuda's tax position.

A similar report was given to the Organisation for Economic Co-operation and Development on September 15.