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 … Read More
Tax Co-operation
OECD Provides AEOI Update – Over 1300 Bilateral Automatic Exchange Relationships in Place
The OECD today reports that a further 350 bilateral automatic exchange relationships have been established between over 50 jurisdictions committed to exchanging information automatically, pursuant to the OECD [Common Reporting … Read More
BEPS Action 4 Report to Curb International Tax Avoidance
The OECD has released an updated version of the 2015 BEPS Action 4 Report, which includes further guidance on two areas: the design and operation of the group ratio rule, … Read More
The Bahamas Makes Progress in the Implementation of CRS
Minister of Financial Services the Hon. C.V. Hope Strachan reported today that [the Bill](https://bfsb-bahamas.com/news.php?cmd=view&id=3694&pre=y) to provide for the implementation of the Common Standard on Reporting and Due Diligence for Financial … Read More
Monaco Ratifies The Convention on Mutual Administrative Assistance in Tax Matters
Today Monaco deposited its instrument of ratification for the [Convention on Mutual Administrative Assistance in Tax Matters](http://www.oecd.org/tax/exchange-of-tax-information/convention-on-mutual-administrative-assistance-in-tax-matters.htm), underling its commitment to fight tax evasion and avoidance. It is another important … Read More
Global Tax Transparency Summit Backs Push for Greater Transparency
Twenty-six Parliamentarians have now signed a concordat calling on governments to support greater tax transparency by multinational companies. The signatories were in London for today’s [Global Tax Transparency Summit](http://www.parliament.uk/business/committees/committees-a-z/commons-select/public-accounts-committee/taxation/global-tax-summit-16-17/), hosted … Read More
Bahamas House of Assembly Passes Automatic Exchange of Financial Account Information Bill, 2016
Yesterday, the Honourable House of Assembly passed the Automatic Exchange of Financial Account Information Bill, 2016 with the unanimous support of all Parliamentarians. This Bill, which provides for the implementation … Read More
European Council Adopts Directive on Access to Beneficial Ownership Information
The Council today adopted a Directive granting access for tax authorities to information held by authorities responsible for the prevention of money laundering. According to a release from the EU, … Read More
BRICS Nations Pledge to Share Tax Information
BRICS nations today pledged to share tax information automatically and adopt global standards on tax transparency to check cross border tax evasion. The Heads of Revenue of the BRICS countries … Read More
BEPS Guidance on CbC Reporting
The [Inclusive Framework on BEPS](http://www.oecd.org/ctp/beps-about.htm) today released two new documents to support the global implementation of Country-by-Country (CbC) reporting (BEPS Action 13). These are: * Key details of jurisdictions’ domestic … Read More