Friday, October 2, 2020

Bowe: Blacklisting threats will persist due to country’s tax structure

Gowon Bowe

Natario McKenzie
Eyewitness News

NASSAU, BAHAMAS — The Bahamas will continue to face threats of blacklisting as long as its tax structure is viewed as harmful to the global economy, a well-known banker said yesterday.

Gown Bowe, the Fidelity Group’s chief executive said: “As long as we are going to continue to remain on a consumption-based tax system we can continue to believe that they are going to attack us. Do we want to be the last of the Mohicans? We can count on one hand the amount of jurisdictions with a similar tax structure to ours and all are in the same boat as us.”

He added: “We have to really decide whether we are an international financial centre or an offshore jurisdiction that calls itself an international financial centre.

His comments came after the EU indicated that unless The Bahamas is delisted by the FATF and meets the autonomous assessment criteria of the EU, The Bahamas will not be delisted by the EU.  Read more >>