Mobile Menu
Offshore Cases

Ministry of Finance -v- (1) E (2) F (3) H [2014] SC (Bda) CIV 43 (30 May 2014)

May 2014 Tax Information Exchange Agreements

BERMUDA

SUPREME COURT

INTERNATIONAL COOPERATION (TAX INFORMATION EXCHANGE AGREEMENTS) ACT, 2005 (THE “ACT”) – PRODUCTION ORDERS – FAILURE TO SPECIFY HOW INFORMATION IS TO BE PROVIDED – REQUESTS THAT DO NOT CONFORM WITH THE REQUIREMENTS OF THE RELEVANT TAX INFORMATION EXCHANGE AGREEMENT (“TIEA”)

Certain amendments to the Act came into force in December 2013 which required the Minister of Finance to make applications for information or document production to the Court. A successful application results in a production order. The party served with the Order may apply to the Court to set it aside or vary it. In this case the Defendants sought to do just that.

The production order in question sought information on various matters such as the Defendants’ activities, the means used to carry them out and the date and means of acquisition of licenses, patents and intangible assets.

 

To continue reading full articles in PDF format:
Ministry of Finance -v- (1) E (2) F (3) H [2014] SC (Bda) CIV 43 (30 May 2014)

 

Accolades
_

"Few firms can come close to Conyers on one critical metric, and this is the breadth of the client base."
- IFLR1000