Bermuda With Ireland Targets of Tax Vigilantes, Minister Says

Bermuda and Ireland are being swept up in a “vigilante approach” to corporate taxes by bigger nations seeking to curb deficits, Bermuda’s Finance Minister Bob Richards said, vowing to keep the country’s zero tax rate.

“We have never had corporate income tax and we’re not going to,” Richards said in a telephone interview yesterday. “Ireland is swept up into this as well but it is just important for us to state our case and not be overwhelmed by the kind of global politics and rhetoric that we have seen.”