For some time now there have been rumours on this subject. Pierre Moscovici (Minister of Economy and Finance) and Bernard Cazeneuve (deputy Budget Minister) have officially announced to the Rapporteurs and the Presidents of the Finance Commission (Commission to the National Assembly and to the Senate) that, “taking into account progress realized and answers actually addressed to the French queries in 2013, we wanted to inform you that as from now we will propose to have Jersey and Bermuda removed from the list of Non Cooperative States and Territories upon the update of the list in 2014” (free translation).

The announcement is reassuring: in practice, French assets held by structures located in Jersey and Bermuda will not suffer the punitive measures of French taxation targeting Non Cooperative States and Territories.

http://bakerxchange.com/rv/ff0014585b9fd2938f9d9de070449bdbc68c2331/p=2006166#page=1