At the end of August, France added Bermuda to a blacklist of tax havens.
Last Friday, Bermuda news reported that :
“With the support of the Governor, the Ministry has secured the involvement of the UK Government which is engaging the French authorities at the diplomatic level, Finance Minister Bob Richards said on Friday [Sept 20] in the House of Assembly.”
“Answering a Parliamentary Question from Shadow Finance Minister David Burt over what actions are being taken over the ‘blacklist’, Minister Richards said the Ministry has secured the involvement of the UK Government who are engaging the French authorities, and also noted that Ministry of Finance officials have arranged meetings with their French counterparts to resolve France’s concerns.”
In related news, “KPMG has said that transactions involving jurisdictions on France’s “black list” — which now include Bermuda — are subject to additional transfer pricing documentation requirements.”