On December 15, 2017 the OECD issued a press release announcing that on that same date the Bahamas signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. By doing so, the Bahamas became the 116th signatory to the convention.

The Convention on Mutual Administrative Assistance in Tax Matters provides a comprehensive multilateral framework for the exchange of information and assistance in tax collection. Its coverage includes administrative assistance between tax authorities for information exchange on request, automatic exchange of information, simultaneous tax examinations and assistance in the collection of tax debts.

The Bahamas also during the week signed the CRS Multilateral Competent Authority Agreement‎ (CRS MCAA), re-confirming its commitment to implementing the automatic exchange of financial account information pursuant to the OECD/G20 Common Reporting Standard (CRS) in time to commence exchanges in 2018. By doing so the Bahamas became the 97th jurisdiction to sign the CRS MCAA.

 

Click here to be forwarded to the Chart of Jurisdictions participating in the Convention on Mutual Administrative Assistance in Tax Matters (status as per December 15, 2017) as available on the website of the OECD, which will open in a new window.

 

Click here to be forwarded to the List of CRS MCAA signatories (status as per December 13, 2017) as available on the website of the OECD, which will open in a new window.

 

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