The Bahamas today signed a [Tax Information Exchange Agreement (TIEA)](http://www.bfsb-bahamas.com/international/039141100.pdf) with Australia.

Signing on behalf of The Commonwealth of The Bahamas was H.E. Cornelius A. Smith, Bahamas Ambassador to the United States. He said negotiation had been collaborative and cooperative and expands economic relations between The Bahamas and Australia, nations that are *“committed to the effective implementation of accepted international standards for financial regulation and cross-border cooperation.”*

The Australian TIEA is the 20th concluded by the Government of The Bahamas, *(see [Tax Cooperation](http://www.bfsb-bahamas.com/international.php))* including 14 agreements with OECD member states and 7 agreements with members of the G-20. Ambassador Smith added, “*The Government of The Bahamas is satisfied that its expanding network for tax information exchange improves The Bahamas’ ability to benefit from the changing global regulatory environment and to enjoy continued growth in its international business industry.”*

Signing on behalf of Australia was its Ambassador to the United States, the Hon. Kim Beazley, who said Australia has long wanted such agreements, particularly given the complex and important issues surrounding global taxation matters. Signing such agreements, he continued, fulfils Australia’s commitments to the OECD, the United Nations and the G-20.

Australia also signed TIEAs with the Cayman Islands and Turks and Caicos today.