New rules set to target shell companies
Bermuda’s decision to sign up to a country-by-country reporting agreement for multinational companies could be used to target shell companies using the island for tax avoidance. Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers, said: “The main impact of the country by country reporting will likely be to call attention to shell companies formed by non-Bermuda multinationals in which little on the ground economic activity ta
