The Bahamas signs Competent Authority Arrangement with the United States in Accordance with the Intergovernmental Agreement, IGA, to implement the Foreign Account Tax Compliance Act (FATCA)

Posted on: March 7, 2017

The Ministry of Finance and the Ministry of Financial Services is pleased to announce the signing of a Competent Authority Arrangement between the United States and the Bahamas.  The Competent Authority Arrangement was signed in accordance with the Intergovernmental Agreement, IGA, signed in November 2014 entitled, “Agreement between the Government of the Commonwealth of The Bahamas and the Government of the United States of America to implement FATCA”.  This arrangement establishes the procedures for the automatic exchange obligations described in the IGA.

The Bahamas is in compliance with the United States Foreign Account Tax Compliance Act (FATCA) and remains committed to meeting international standards for best practice with respect to tax compliance.



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