Bahamas will join the exchange of information

By the end of September 2016, the Bahamas intends to sign the law and the Directive on the automatic exchange of information in accordance with OECD Common Recording standard.

Since 2018 the Bahamas Government of is ready to start automatic exchange.

Now drafting of the bill, which will guarantee the confidentiality and protection of exchanges of financial information, in line with international standards is drafted.

The state will sign an agreement with each of those states, which will be exchanging information and not to join the OECD multilateral agreements, in particular the Convention on Mutual Administrative Assistance in tax matters.

A source:

http://www.bahamas.gov.bs/wps/portal/public/gov/government/news/