Registration of Reporting Financial Institutions under the Automatic Exchange of Financial Account Information Act, 2016

Posted on: April 10, 2017

Pursuant to Section 4(2)(a) and (b) of the Automatic Exchange of Financial Account Information Act, 2016, Reporting Financial Institutions are required to register with the Competent Authority within 90 days of the commencement of the Act, i.e. by April 1st, 2017. Please be advised that the Common Reporting Standard/Automatic 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 register.”



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RFP – Tax Information Reporting System deadline extended to August 1, 2017. Response to questions.

Click here to view / download the document RFP – Tax Information Reporting System

List of Jurisdictions Interested In Exchanging Automatic Information with The Bahamas as at 30 JUNE 2017

The Bahamas intends to sign the Multilateral Competent Authority Agreement. With respect to the Multilateral Competent Authority Agreement, there is a notification process before the MCAA and automatic exchange of financial information can take effect between the two Competent Authorities and the timing of when exchanges will commence. Notice will be given with respect to…

RFP- Tax Information Reporting System

The Ministry of Finance wishes to implement a comprehensive integrated application to manage both the United States of America’s Foreign Account Tax Compliance Act (FATCA) and the Organisation for Economic Co-operation and Development’s (OECD) Common Reporting Standard for Automatic Exchange of Information (CRS – AEol). In order to achieve FATCA compliance, the Commonwealth of The…

RFP – Project Management – Tax Information Reporting System

The Ministry of Finance wishes to implement a comprehensive integrated application to manage both the United States of America’s Foreign Account Tax Compliance Act (FATCA) and the Organisation for Economic Co-operation and Development’s (OECD) Common Reporting Standard for Automatic Exchange of Information (CRS- AEoI). In order to achieve FATCA compliance, the Commonwealth of The 8ahamas…

Bahamas Approach to Common Reporting Standard and Key Dates

Pursuant to the commitment of The Bahamas to effectively implement the Common Reporting Standard (“CRS”)/Automatic Exchange of Information, The Competent Authority wishes to advise all financial institutions (FIs) as follows: 1. The Government of the Bahamas has taken a policy decision to implement CRS by way of the Multilateral Convention on the Mutual Administrative Assistance…