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Bermuda keen on sealing tax-information exchange pact

CHENNAI: Bermuda expects to clinch a significant tax-information exchange agreement with India by this month-end, Bermuda Premier Ewart Frederick Brown said on Monday.

Addressing a function hosted by the southern India regional council of the Institute of Chartered Accountants of India (ICAI), Mr. Brown said the agreement would clear the decks for the countries to “get down to business” in various sectors.

First Lady of Bermuda Wanda Brown and Member of the Bermuda Parliament Walter Lister were present.

Terming his whirlwind tour of the India that involves a series of meetings with political leaders, officials, businessmen and the film fraternity “informative and full of quality,” Mr. Brown said his country was specifically looking at ways to create incentives for Indian film producers to shoot in the island nation. Stating that he received the best of warmth and hospitality in the 36 hours he had been in India, he said: “the only thing you have not given us is sleep.”

Rajendra Kumar, immediate past chairman of the ICAI regional council, said Bermuda would figure when the institute next organised an international study tour.

P.R. Aruloli, member of the ICAI regional council, expressed the readiness of the CA fraternity, involving 1.50 lakh practitioners and about 6 lakh students, to extend professional collaboration with their counterparts in Bermuda.

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