Multinational Entities Financial Reporting Act 2018

Posted on: May 15, 2019

Pursuant to Sections 4(1) and 4(2) of the Multinational Entities Financial Reporting Act, 2018, constituent entities resident in The Bahamas whose reporting fiscal year began during 2018 are required to provide certain notification to the Competent Authority by 31 May, 2019. Please be advised that the country-by-country Exchange of Information portal will be available for registration at a date to be announced by the Competent Authority and until such time, there will be no penalty for failure to provide notification.



All News

Ministry of Financial Services Working to Ensure The Bahamas’ Compliance with International Standards

NASSAU, Bahamas – The Ministry of Financial Services is doing everything necessary to ensure the full compliance of The Bahamas with established international norms and standards, as the Ministry prepares the country to be ready to comply with the United States Foreign Accounts Tax Compliance Act (FATCA).. The Ministries of Financial Services and Finance hosted…

FATCA Compliance: Bahamas Races Toward the Finish Line

Ministry of Finance Enlists EY and Convey to Develop and Deploy FATCA Model 1 IGA March 4, 2015 (Nassau Bahamas) – The Government of the Bahamas Ministry of Finance announced today that it has moved to a new stage in the development and rollout of its Foreign Account Tax Compliance Act (FATCA) Model 1 Intergovernmental…