Global Tax Transparency Drive Boosts Island's Appeal

 The tax transparency drive led by the world's largest economic powers is effectively helping to drive business to Bermuda, ac­cording to a top lawyer with an international firm.

Steven Rees Davies, corpo­rate partner with Appleby Ber­muda, said the fact that Bermuda had kept pace with international regulatory changes allowed the island to differentiate itself from less advanced offshore jurisdic­tions.

"Bermuda has earned an ex­cellent reputation for regulatory standards because of the high standards the Bermuda Stock Exchange and the Bermuda Monetary Authority have put in place, which has positioned the island as a blue-chip jurisdiction that companies want to do busi­ness with," Mr Rees Davies said.