Recommended that Bahamas Be Removed from EU List of Non-Cooperative Jurisdictions

April 17, 2018By @BahamasFSBBFSB News, Industry News, Tax Co-operation, Tax Cooperation

Source: Ministry of Finance The European Union Code of Conduct Group has officially recommended the Bahamas’ removal from the list of non-cooperative jurisdictions for tax purposes. The Government received confirmation of this in writing on April 17, 2018 from the Secretariat of the Code of Conduct Group. At its meeting on April 12, 2018, Member … Read More

CRS Implementation Handbook 2nd Edition Issued By OECD

April 6, 2018By @BahamasFSBBFSB News, CRS, Industry News, Tax Co-operation, Tax Cooperation

On April 5th, 2018 The OECD released the second edition of the Common Reporting Standard Implementation Handbook. Financial Institutions are encouraged to consult the CRS Implementation Handbook and CRS-related FAQs, which are published on the OECD website as they prepare for reporting:  CRS Implementation Handbook 2nd Edition The Handbook provides practical guidance to assist government … Read More

IBFS 2018 A Great Success

March 5, 2018By @BahamasFSBBFSB News, Education & Training, Events, Industry News, Private Wealth Management, Tax Co-operation, Tax Cooperation

This year the Bahamas Financial Services Board hosted its annual International Business and Finance Summit in conjunction with Bahamas Briefing on March 1st and March 2nd at the Baha Mar Convention Center. At the Bahamas Briefing international intermediaries got an opportunity to see and hear why the Bahamas is the jurisdiction of choice as local … Read More

Implementation of CRS – Guidance Notes, Legislative Amendments and Related Matters

November 13, 2017By @BahamasFSBBFSB News, Industry News, Tax Co-operation

BFSB wishes to provide the following update with respect to the implementation of the Common Reporting Standard and the automatic exchange of information. The Guidance Notes – Based on industry feedback and a further review of the Common Reporting Standard (CRS) in conjunction with The Commentary on CRS, amendments have been made to the initial draft … Read More

BEPS Update/International Tax Initiatives

November 1, 2017By @BahamasFSBBFSB News, Industry News, Tax Co-operation, Tax Cooperation

The Bahamas government hosted an Industry Briefing Session on Base Erosion and Profit Shifting (BEPS) and other International Initiatives facing the financial services sector. Ms. Adrianna Knowles Rahming, Legal Officer, Ministry of Finance and Ms. Tanya Murray, Project Manager, Ministry of Financial Services gave remarks at the briefing held on November 1st, 2017 at the … Read More

BFSB HOSTS SUCCESSFUL INTERNATIONAL BUSINESS AND FINANCE SUMMIT 2017

January 31, 2017By @BahamasFSBBFSB News, Education & Training, Industry News, International Issues, Tax Co-operation

The Bahamas Financial Services Board (BFSB) hosted its 14th International Business & Finance Summit (IBFS) 2017 which took place at Lighthouse Pointe, Grand Lucayan Resort, Grand Bahama from January 26-28th, 2017 under the theme “Financial Services: Responding to Change through Innovation”. The event attracted approximately one hundred and fifty practitioners (local and international) regulators, government … Read More

Draft CRS Regulations (CONSULTATION)

January 25, 2017By @BahamasFSBBFSB News, Industry News, Tax Co-operation

Please be advised that the **draft Automatic Exchange of Financial Account Information Regulations, 2017** have been prepared and are below for your review and feedback by **Tuesday, January 31st, 2016**. This draft is being circulated for industry-wide consultation and public review. All comments, queries and/or concerns are welcomed and should be submitted to info@bfsb-bahamas.com within … Read More

Automatic Exchange of Information (AEOI) Legislation

January 3, 2017By @BahamasFSBBFSB News, Industry News, International Issues, Tax Co-operation

Please be advised that The Automatic Exchange of Financial Account Information Act, 2016 (This Act came into force on the 1st day of January 2017) was assented to and has been published in the Official Gazette, The Bahamas on the 29th December, 2016. The Automatic Exchange of Financial Account Information Act, 2016, and Intended countries … Read More