Friday, February 21, 2020

AIBT & BFSB Joint Response – The Bahamas Off The EU Blacklist


BFSB and AIBT welcome the news of The European Union’s Economic and Financial Affairs Council’s complete removal of The Bahamas from its List of Non-Cooperative Jurisdictions for Tax Purposes, at their meeting in Brussels today. This was done in recognition of The Bahamas having implemented all of the necessary reforms to meet the EU criteria on tax governance and tax cooperation. The move by the EU underscores The Bahamas’ commitment to adhere to global regulations and international best practices as a premiere international financial centre. The decision acknowledges that The Bahamas has implemented all the necessary reform to address concerns regarding economic substance, removal of preferential exemptions and automatic exchange of tax information.  Read more >>