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Business Daily: Bermuda's Tax Triangle

02/12/2014

Bermuda's Tax Triangle

BBC World Service - Business Daily, Bermuda's Tax Triangle

Finance minister Bob Richards says Bermuda is unfairly associated with tax avoidance

Finance minister Bob Richards says Bermuda is unfairly associated with tax avoidance.

We have all heard the stories of big international companies avoiding billions of dollars in tax by funnelling revenues through so-called offshore tax havens. So how do the countries involved justify hosting these arrangements? Business Daily speaks to Bob Richards, the finance minister of Bermuda, a tiny island nation with a huge financial services sector. He tells us why he thinks Bermuda has been unfairly associated with tax avoidance. We hear about the Japanese love of the very best beef. And James Jeffrey visits a large scale dairy farm in Ethiopia, where milk is what people want to drink.

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