Poland confirms Bermuda removed from blacklist

Poland has confirmed that it has removed Bermuda from its domestic list of countries of non-cooperative tax jurisdictions.

Recently, the European Commission (EC) included Bermuda as one of 30 jurisdictions on a blacklist, which consolidates national tax ‘blacklists’ as they stood six months ago and includes any jurisdiction on the lists of ten or more Member States.

Poland is one of the 11 EU Member States that had included Bermuda on a blacklist, according to the EC.

The 11 states named as having nominated Bermuda for inclusion were: Belgium, Bulgaria, Croatia, Estonia, Greece, Italy, Latvia, Lithuania, Poland, Portugal and Spain.

Poland had already removed Bermuda from its own blacklist, having signed a Tax Information and Exchange Agreement (TIEA) with Bermuda in November 2013. The TIEA only came into force on March 15, 2015.