Bermuda has 'substantially' implemented the sharing of tax matters standard set up by the Organisation for Economic Co-operation and Development after a twelfth agreement was signed with the Netherlands. Bermuda was one of the first jurisdictions that committed to the sharing of tax information agreement with the aim of achieving global transparency and beating tax avoidance and evasion. Jeffery Owens, director of the OECD's Centre for Tax Policy and Administration said: 'This is a very significant development for Bermuda It has been able to rapidly implement the standard by signing nine agreements in two months. It is nevertheless essential that countries that reach this threshold continue to be open to negotiating agreements with other countries that approach them'.