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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AEOI/CRS Guidance Notes

GUIDANCE NOTES ON THE COMMON REPORTING STANDARD FOR AUTOMATIC EXCHANGE OF FINANCIAL ACCOUNT INFORMATION IN TAX MATTERS Date of Issue: December 29th, 2017 These Guidance Notes are issued under The Bahamas Automatic Exchange of Financial Account Information Act 2016. This document will continually be under review with updates being issued periodically. AEOI/CRS_Guidance Notes – 29…

Bahamas will sign the Convention on Mutual Administrative Assistance in Tax Matters

On Friday 15 December, 2017 The Bahamas will sign the Convention on Mutual Administrative Assistance in Tax Matters (“MAC”) in Paris, France.

Bahamas signs the Multilateral Competent Authority Agreement

On Wednesday the 13 December, 2017, The Bahamas signed the Multilateral Competent Authority Agreement (“MCAA”) in San Marino. A list of Reportable Jurisdictions will be provided at a later date.

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…