Japan and the Bahamas signed a memorandum to their Tax Information Exchange Agreement (TIEA) on 9 February and agreed to improve the agreement by providing automatic exchange. The aim of this agreement is to promote international cooperation in tax matters through the exchange of information. It was developed by the OECD Global Forum Working Group on Effective Information Exchange. In June 2015, the OECD`s Tax Affairs Committee (CFA) approved a standard protocol on the agreement. The standard protocol can be used by jurisdictions if they wish to extend the scope of their existing TIEAs to the automatic and/or spontaneous exchange of information. A tieA request for information model has been developed to assist the relevant authorities of TIEA partners in requesting information. It is available in English and French as well as in Spanish, German, Italian, Japanese, Korean and Turkish. The Bahamas` position on international tax cooperation includes the government`s recent statements on the TIEA negotiations and its commitment to international information-sharing standards in March 2009. We also published archived articles from January 2002, when The Bahamas US TIEA was signed. In this regard, legal systems may be based on a bilateral agreement between the competent authority for the implementation of the automatic exchange of information in accordance with the common standard of notification or automatic exchange of reports by country on a TIEA, particularly in cases where it is not (yet) possible to automatically exchange information through the relevant authority within the framework of a relevant multilateral agreement. The governments of Australia and the Bahamas have signed an agreement on the exchange of tax information. The agreement provides for the exchange of information on request, both in criminal and civil matters.
An agreement on the exchange of tax information between Ireland and the Bahamas has come into force, as announced by the Irish Revenue on 7 February. The agreement signed on 12 January 2015 allows the exchange of information . . . We are pleased to provide below, in the form of an information guide, a series of documents on the Bahamas and its position on international tax cooperation, as well as developments in a number of legal systems since January 2009. See below for: This document contains the following information: Agreement between the United Kingdom and the Commonwealth of the Bahamas on the exchange of tax information. Please contact info@bfsb-bahamas.com if you have any questions. Jurisdictions can also use the text of the articles in the model protocol if they wish to include the automatic and spontaneous exchange of information in a new TIEA.
Since March 2019, the Bahamas has signed tax information exchange agreements with 29 countries, including the United Kingdom, Germany, France, China, Canada and Australia.
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