Latest Treaty Updates: Bahamas
Treaty Update: Czech Republic - Bahamas
12/3/2012
According to preliminary media reports, on March 8, 2012, the Czech Republic initialled a TIEA with the Bahamas.
Treaty Update: Malta - Bahamas
23/1/2012
The Maltese High Commission in the UK has announced that a TIEA between the Bahamas and Malta was signed on January 18, 2012.
Treaty Update: Bahamas - Germany
10/1/2012
The Bahamas High Commission has announced that the TIEA between Germany and the Bahamas was ratified on December 12, 2011.
Treaty Update: Canada - Bahamas
23/11/2011
Canada's Department of Finance has announced that the TIEA signed between Canada and the Bahamas on June 17, 2010, entered into force on November 16, 2011.
Treaty Update: San Marino - Bahamas
14/11/2011
According to the government of San Marino, the TIEA signed between San Marino and the Bahamas on September 24, 2009, entered into force on November 10, 2011.
Treaty Update: Vietnam - Bahamas
22/9/2011
According to preliminary media reports, Vietnamese Prime Minister Nguyen Tan Dung gave his approval on September 19 for the DTA between Vietnam and the Bahamas to be signed.
Treaty Update: Japan - Bahamas
25/8/2011
The TIEA between Japan and the Bahamas enters into force on August 25, 2011, according to the Japanese Ministry of Foreign Affairs.
Treaty Update: Bahamas - Aruba
18/8/2011
The Bahamian government announced on August 8, 2011 the signature of a TIEA with Aruba.
Treaty Update: Bahamas - Guernsey
17/8/2011
The Bahamas government has announced that a TIEA with Guernsey was signed on August 8.
Treaty Update: Korea, South - Bahamas
8/8/2011
The Bahamas and South Korea signed a TIEA on August 4, 2011, the government of the Bahamas has announced.
Treaty Update: Japan - Bahamas
28/7/2011
The Japanese Ministry of Foreign Affairs has said that on July 25, 2011 Japan and the Bahamas exchanged notes for the entry into force of their TIEA. The TIEA will enter into force on August 25, 2011. The TIEA also provides for tax exemption with respect to certain individual income, including pensions. The TIEA was signed on January 27, 2011.
Treaty Update: Japan - Bahamas
1/6/2011
The TIEA provides for the exchange of information relevant to the administration and enforcement of domestic tax laws, and information which is relevant to the determination, assessment and collection of taxes, the recovery and enforcement of tax claims, and the investigation/prosecution of tax matters. It covers all taxes in both territories. The TIEA also provides for the exchange of information held by banks, and other financial institutions, and information regarding the ownership of companies, partnerships, trusts and foundations.
Treaty Update: Spain - Bahamas
26/5/2011
Spain ratified. The TIEA was signed on March 11, 2010. In Spain, the TIEA covers individual income tax, corporation tax, non-resident income tax, capital tax, inheritance and gift tax, transfer tax, VAT, excise tax and local taxes on income and capital. In the Bahamas, the TIEA covers taxes of all kinds. The TIEA provides for the exchange of information relevant to the administration and enforcement of domestic tax laws, the determination, assessment and colection of taxes, the recovery and enforcement of tax claims, and the investigation/prosecution of tax matters. The TIEA also provides for the exchange of information held by banks and other financial institutions, and information regarding the ownership of companies, partnerships, trusts, foundations etc.
Treaty Update: United Kingdom - Bahamas
25/5/2011
The TIEA was igned on October 29, 2009, and entered into force with effect in repsect of criminal matters from April 1, 2004, and for all other matters for taxable periods commencing on or after the date of entry into force, January 7, 2011. The TIEA covers taxes of all kinds, and all identical/similar taxes imposed after the date of signature. The TIEA provides for the exchange of information relevant to the administration and enforcement of domestic tax laws, including information relevant to the determination, assessment, verification, enforcement, recovery or collection of tax claims, or the investigation/prosecution of tax matters. The TIEA also provides for the exchange of information held by banks and other financial institutions, and information regarding the ownership of companies, partnerships, trusts, foundations etc.
Treaty Update: India - Bahamas
25/5/2011
The TIEA rovides for the exchange of information, including exchange of banking and ownership information.
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Latest News
India is playing a major role in the global crusade against black money and has completed negotiations for 16 new tax information exchange agreements, according to the chairman of the Central Board of Direct Taxes M C Joshi.
Netherlands Notes Tax Agreements' Entry Into Force 30/12/2010
The Netherlands government has announced the ratification of a revised double tax agreement with the United Kingdom, approved by the Netherlands’ Senate in late December.
Japan, Bahamas Sign DTA 9/11/2010
The Japanese government has announced the signing of a comprehensive double tax convention with the Bahamas, which contains provisions for the exchange of tax information.
Hong Kong Property Taxes Reviewed 16/3/2010
Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget speech at the Joint Business Community Luncheon on March 12 and, in particular, reviewed the tax measures taken to increase the transaction cost of property speculation so as to reduce the risk of a property bubble being created.
NZ Emissions 'Tax' Attacked 15/3/2010
The ACT New Zealand Party, a member of the country’s present coalition government, has continued its opposition to New Zealand’s new carbon emissions trading scheme, calling it a tax that will increase inflation in the economy.
Australia Promised Full Debate On Tax Review 15/3/2010
Following indications that the Australian government was thinking of a delay to the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed that it will be issued in good time for a full debate on any proposed tax changes.
Orascom Loses Algerian Tax Appeal 12/3/2010
Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary, Orascom Telecom Algérie, has received a rejection to its appeal, made in December last year, against the notice for taxes and penalties it had received from the Algerian tax authorities the month previously.
Switzerland, Slovakia Initial Revised DTA 12/3/2010
It has recently emerged that Switzerland and Slovakia have initialled a revised bilateral double taxation agreement, containing the Organization for Economic Cooperation and Development’s standard on tax information exchange.
UK Budget To Hit The Rich 12/3/2010
Wealthy individuals may have less than two weeks to put plans in place to reduce the tax impact of the Chancellor’s pre-election Budget, warns PKF Accountants and business advisers.
Malaysia Not Cancelling GST 12/3/2010
After a government meeting, Malaysia’s Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah, has rejected any suggestion that the proposed introduction of a goods and services tax has been cancelled.
BVI To Review Taxes And Fees 15/3/2010
British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.
Germany Approves Liechtenstein TIEA 15/3/2010
Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein.
UAE Completes VAT Study 12/3/2010
Authorities in the United Arab Emirates are inching closer to the introduction of a value-added tax.
IRS Offers Help To Struggling Taxpayers 14/3/2010
The US Internal Revenue Service has announced several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems.
Baucus Seeks Trade Preference Reform 15/3/2010
Senate Finance Committee Chairman Max Baucus is leading efforts for reform of US trade preference programs accorded to developing countries.
Jersey Riding Out Onshore Storm 15/3/2010
Jersey will overcome the evolving challenges being faced by offshore international financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants at a Breakfast Briefing in London.
OECD Urges Fiscal Policy Shift 12/3/2010
Governments must now gear their economies towards jobs, international competitiveness and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for Growth’ report, analyzing the next step for recovering economies.
Tax Relief For California Storm Victims 11/3/2010
The State of California’s Franchise Tax Board on March 9 announced special tax relief for California taxpayers affected by the recent severe winter storms that started in January.
Belgium's Kilometer Tax Opposed 11/3/2010
The Humanist group cdH of the Walloon parliament in Belgium has rejected the idea of a road tax levied per kilometre travelled, advocating instead the introduction of an inclusive road tax disc, which could then be modified to take certain environmental criteria into account.
Bahamas Achieves White-Listing 12/3/2010
The Bahamas has achieved a place on the Organization for Economic Cooperation and Development's ‘white list’ following the signing of Tax Information Exchange Agreements with the seven Nordic economies of Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, on March 10.
Amazon Retaliates Against Colorado 11/3/2010
Amazon.com cut ties with its Colorado affiliate marketers on March 8 after the US state forged ahead with its plan to introduce a mandatory Internet sales tax on e-businesses with an annual turnover exceeding USD100,000.
Norway Urged To Revise Fiscal Policy 11/3/2010
The Organization for Economic Cooperation and Development has called on Norwegian authorities to revise fiscal policy in light of the nation’s recovering economy.
US Senate Approves Tax Extenders Bill 12/3/2010
US Senate Finance Committee Chairman Max Baucus has applauded the Senate’s passage of legislation to extend tax cuts, unemployment insurance benefits and eligibility for unemployment benefits and health care for unemployed workers through the end of 2010.
MEPs Push EU Tobin Tax 12/3/2010
In a recently adopted resolution, the European Parliament has emphasized the need to develop plans for a global tax to discourage excessive risk-taking by financial institutions and to ensure that the financial industry pays for damage caused by the financial crisis.
Bahrain And UK Sign DTA 11/3/2010
The Kingdom of Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, and UK ambassador, Jamie Bowden, signed a comprehensive double taxation agreement between the two countries in Manama on March 10.