The UK and Bermuda Sign Competent Authority Agreement for Exchange of Financial Information

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The UK and Bermuda have signed a competent authority agreement on automatic exchange of information. The agreement was signed on 20 June 2017 by the UK and on 27 June 2017 by Bermuda.

This Agreement provides the effective exchange of information regarding tax matters between the tax authorities including automatic exchange of information which is necessary for the exchange of financial account information based on the international standards formulated by the OECD, and is expected to contribute to the prevention of international tax evasion and tax abuse.

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