France’s finance minister Pierre Moscovici and Bernard Cazeneuve, deputy budget minister, have officially announced to the country’s parliament that Jersey and Bermuda will be removed from the list of Non Cooperative States and Territories upon the update of the list in 2014. 

International law frm Baker & McKenzie said the news was good news as, 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.