Bahamas Meets Internationally Agreed Tax Standards
http://www.caribbeanpressreleases.com/articles/6490/1/Bahamas-Meets-Internationally-Agreed-Tax-Standards/Page1.html
S Coward
By S Coward
Published on 16-Mar-10
March 16, 2010 -- Seven Tax Information Exchange Agreements signed between the Government of The Bahamas and the Governments of the Nordic countries of Norway, Sweden, Finland, Denmark, Iceland, Greenland and
the Faroes.
18 agreements
March 16, 2010 -- The Government of the Commonwealth
of The Bahamas has signed seven Tax Information Exchange Agreements
respectively with the Governments of the Kingdom of Norway, the Kingdom of Sweden, the Republic of Finland, the Kingdom of
Denmark, Greenland and the Faroes. The signing of these seven (7)
bilateral agreements is the culmination of a successful round of
multilateral negotiations between the seven Nordic countries and The
Bahamas, which were concluded in December last year.
The Government of The Bahamas welcomes the conclusion of these Agreements, which are also expected to enhance the framework for economic cooperation between the parties, as a further expansion of the longstanding cooperative relationship between The Bahamas and the Nordic countries; such cooperative relationships having traditionally existed within the contexts of the United Nations and the International Maritime Organisation.
These most recent Agreements are indicative of the interest and commitment of the Government of The Bahamas in participating in the global effort for a sound financial system. The Government of The Bahamas anticipates that, with its growing tax cooperation network, the country will see its situation improve as an International Financial Centre that has adapted to the changing international regulatory environment.
The Agreements were signed on behalf of The Bahamas by Hon. Zhivargo Laing, Minister of State for Finance. With the execution of these tax information exchange agreements, The Bahamas has achieved substantial implementation of the internationally agreed standard for transparency and effective exchange of information, for the purposes of the OECD/G20 Progress Report.
The Government of The Bahamas has now concluded eighteen (18) agreements providing for tax information exchange, including twelve (12) agreements with members of the OECD and six (6) agreements with G20 members.
The Government of The Bahamas welcomes the conclusion of these Agreements, which are also expected to enhance the framework for economic cooperation between the parties, as a further expansion of the longstanding cooperative relationship between The Bahamas and the Nordic countries; such cooperative relationships having traditionally existed within the contexts of the United Nations and the International Maritime Organisation.
These most recent Agreements are indicative of the interest and commitment of the Government of The Bahamas in participating in the global effort for a sound financial system. The Government of The Bahamas anticipates that, with its growing tax cooperation network, the country will see its situation improve as an International Financial Centre that has adapted to the changing international regulatory environment.
The Agreements were signed on behalf of The Bahamas by Hon. Zhivargo Laing, Minister of State for Finance. With the execution of these tax information exchange agreements, The Bahamas has achieved substantial implementation of the internationally agreed standard for transparency and effective exchange of information, for the purposes of the OECD/G20 Progress Report.
The Government of The Bahamas has now concluded eighteen (18) agreements providing for tax information exchange, including twelve (12) agreements with members of the OECD and six (6) agreements with G20 members.