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Bermuda to disclose tax information to Germany
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SAN JUAN, Puerto Rico - Bermuda has agreed to share tax information with Germany in another bid to distance itself from its tax haven status.
Finance Minister Paula Cox says the agreement is the 13th that the British territory has finalized with countries including the U.S., Denmark and New Zealand.
Both Bermuda and Germany have been recognized for substantially implementing an international tax standard monitored by the Organization for Economic Cooperation and Development.
Bermuda was previously on the organization's "gray list" for not being more transparent with its banking information.
The ruling Progressive Labor Party made the announcement on Friday.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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