Please be advised that the Competent Authority has today released a list of the exchange partners for The Bahamas with respect to the Automatic Exchange of Information/Common Reporting Standard. Provided below for your information. It can also be accessed on the Bahamas Tax Reporting website: www.taxreporting.finance.gov.bs Click here to Download (PDF) Should you have questions please … Read More
Tax Cooperation
The FINANCIAL TRANSACTIONS REPORTING ACT, 2018 and PROCEEDS OF CRIME ACT, 2018 were passed by Parliament
The FINANCIAL TRANSACTIONS REPORTING ACT, 2018 AND PROCEEDS OF CRIME ACT, 2018 were passed by Parliament and came into force on Friday May 15th, 2018. FINANCIAL TRANSACTIONS REPORTING ACT, 2018 AND PROCEEDS OF CRIME ACT, 2018 Appointed Day Notice – POCA & FTRA.May 25, 2018
Recommended that Bahamas Be Removed from EU List of Non-Cooperative Jurisdictions
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
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
The Bahamas’ Expects Removal from the EU List of Non-Cooperative Jurisdictions for Tax Purposes
IBFS 2018 A Great Success
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
Bahamas AEOI/CRS Guidance Notes
Final AEOI/CRS Guidance Notes received from The Ministry of Finance for public dissemination. Documents BAHAMAS AEOI/CRS GUIDANCE NOTES
Bahamas Signs Multilateral Convention for Mutual Assistance in Tax Matters
With respect to the announcement that The Bahamas has formally acceded to The Multilateral Convention on the Mutual Administrative Assistance in Tax Matters (“The Multilateral Convention”), Th Bahamas Financial Services Board (BFSB) and Association of International Bank & Trust Companies (AIBT) acknowledge that arriving at this point has required much collaboration between the government and … Read More
BFSB hosts Timely Seminar on The Common Reporting Standard
The Bahamas Financial Services Board hosted a very timely seminar to assist financial institu-tions with meeting their obligations under The Common Reporting Standard (CRS). The seminar was held on Tuesday December 12, 2017 and was facilitated by Paul Davis, Partner of Higgs & Johnson law firm and Deputy Chairman of The Bahamas Financial Services Board. … Read More
BEPS Update/International Tax Initiatives
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
The Hon. K. Peter Turnquest was born on August 22nd, 1964 in the Bahamas and earned his Bachelor of Business Administration from Prairie View A&M University, and his MBA from Nova Southeastern University. He is a Certified Public Accountant and has been in public and private practice for over 30 years in the area of financial accounting and reporting, audit, corporate services, merges & acquisitions, receiverships and liquidations. Mr. Turnquest has had wide business experience having led international sales and manufacturing operations in several countries.
A former Attorney-General of The Bahamas and one of Her Majesty’s Queens Counsel, John’s practice concentration are financial services law and regulation, corporate governance, business restructuring & insolvency, and commercial litigation. He has also been advisor in several major acquisitions and mergers within The Bahamas, and also in acquisitions by or mergers with regional entities.
The Honourable Brent Symonette presently serves as the Minister of Financial Services, Trade & Industry and Immigration. In May 2017, Minister Symonette was elected as the Member of Parliament representing the constituency of St. Anne’s, Nassau, N.P., The Bahamas. An alumnus of Brunel University in Middlesex, England, he graduated with a BSc (Hons.) in Law and Political Science. He is a Barrister-at-Law having been called to the Bahamas Bar in 1978. Mr. Symonette is a respected and experienced politician having served in many governmental capacities for approximately thirty (30) years. His political career began in 1987 where he was appointed to the Senate of The Bahamas serving in this capacity for two consecutive five year terms. In 2002, he was elected as the Member of Parliament for the Montagu Constituency. During his parliamentary career he served as Minister of Tourism and Attorney General, Deputy Leader of the Free National Movement Party (FNM), Deputy Prime Minister, and Minister of Foreign Affairs and Immigration.
Valdez K. Russell serves as the principal of VKR Insights, a communications and reputation management agency. Throughout his professional career, Valdez has been instrumental in facilitating public relations and communication strategies to help individuals and organizations to build relationships and influence change.
Diego Zuluaga is a policy analyst at the Cato Institute’s Center for Monetary and Financial Alternatives, where he covers financial technology and consumer credit. Before joining Cato, Zuluaga was Head of Financial Services and Tech Policy at the Institute of Economic Affairs in London. While at the IEA, he authored papers on the social value of finance, the role of offshore centers, the regulation of online platforms, and the taxation of capital income, among others. His work has been featured in print and broadcast media, such as the Times, Newsweek, and the Daily Telegraph. Zuluaga is a prolific public speaker as well as a former lecturer in economics at the University of Buckingham.
Ms. Christina R. Rolle is the Executive Director of the Securities Commission of The Bahamas, having been appointed effective 26 January 2015. Ms. Rolle has over 20 years of experience in the financial services industry. Over the course of her career, Ms. Rolle has acted as Director and Deputy CEO for a prominent international private bank and held various senior managerial positions with local and other international institutions including Head of Trust and Fiduciary, Head of Risk, Compliance and Corporate Governance and Manager of Banking Services.
Mr. James H. Smith is currently in retirement since June, 2007. Before then, he served in Parliament as a Senator and in the Cabinet of The Commonwealth of The Bahamas as the Minister of State for Finance during the period 2002 to 2007.
Llewellyn Boyer-Cartwright is a partner in Callenders & Co., The Bahamas’ oldest law firm and recipient of numerous international awards of recognition including the Corporate International Global Award.
Michael Allen has professional expertise in corporate and commercial law, including derivatives law as it relates to the participation by Bahamian entities in financial derivatives transactions, real estate & development, aviation law and wealth management.
Linda Beidler-D’Aguilar joined Glinton Sweeting O’Brien as a partner in July 2015. In her practice she specializes in the structuring and creation of vehicles (including investment funds) for multinational institutional clients as well as private clients; she also advises on corporate transactions, securities law (including public and private offerings) as well as general commercial matters.
Ryan Pinder has been a partner in the law firm of Graham Thompson since January 2016. His practice areas include banking law, corporate and commercial law, investment funds, securities law, capital markets, trusts and estate planning and structuring. He specialises in financial services solutions, planning and wealth management for high net worth individuals and families, and their associated companies and businesses throughout the world.