The International Tax Enforcement (Bermuda) Order 2008

Statutory Instruments

2008 No. 1789

Taxes

The International Tax Enforcement (Bermuda) Order 2008

Made

9th July 2008

At the Court at Buckingham Palace, the 9th day of July 2008

Present,

The Queen’s Most Excellent Majesty in Council

A draft of this Order was laid before the House of Commons in accordance with section 173(7) of the Finance Act 2006(1) and approved by a resolution of that House.

Accordingly, Her Majesty, in exercise of the powers conferred upon Her by section 173(1) of the Finance Act 2006, by and with the advice of Her Privy Council, orders as follows—

Citation

1.  This Order may be cited as the International Tax Enforcement (Bermuda) Order 2008.

Tax information exchange arrangements to have effect

2.—(1) It is declared that—

(a) the arrangements specified in the Exchange of Letters set out in Part 1 of the Schedule to this Order and in the Arrangement set out in Part 2 of that Schedule have been made with the Government of Bermuda with a view to the exchange of information foreseeably relevant to the administration or enforcement or recovery of the taxes, and debts relating to the taxes, covered by the arrangements; and

(b) it is expedient that those arrangements should have effect.

Judith Simpson

Clerk of the Privy Council

Article 2

SCHEDULE

EXPLANATORY NOTE

(This note is not part of the Order)

An Arrangement dealing with the exchange of information for tax purposes between the United Kingdom and the British Overseas Territory of Bermuda (“the Arrangement”) is set out in the Schedule to this Order.

Article 2 makes a declaration as to the effect and content of arrangements set out in the Exchange of Letters contained in Part 1 of the Schedule to the Order and in the Arrangement contained in Part 2 of that Schedule and that it is expedient that those arrangements should have effect.

A detailed explanation of the Arrangement can be found in the Explanatory Memorandum published with the Arrangement and which may be accessed on the web site of the Office of Public Sector Information at http://www.opsi.gov.uk/stat.htm.

The Arrangement will enter into force on the date of the later of the notifications by each country of the completion of its legislative procedures and will take effect from 4th December 2008.

The date of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

(1)

2006 c. 25.