The Bahamas agrees to exchange tax information with Argentina

The Bahamas government on Thursday signed a tax information exchange agreement with Argentina, in the hope of improving its international tax profile, according to a report on www.cananews.net.



The move comes against the backdrop of its recent classification by the Organisation for Economic Co-operation and Development (OECD) among a list of jurisdictions that have committed to internationally agreed tax standards but which have not yet substantially implemented the changes.



The agreement is the seventh to be concluded by the Bahamas which currently falls into the “grey” list of countries that still have work to do in terms of meeting the required OECD standard.



“This level of co-operation between The Bahamas and the Argentine Republic signifies the goodwill that exists between our two countries,” said the Bahamas Consul General Katherine Smith, in signing the agreement.



“The Bahamas looks forward to a productive relationship with the Argentine Republic in this and other areas,” she added.



Other Caribbean countries have also been seeking compliance with the international standards with the Cayman Islands and the British Virgin Islands recently graduating to the OECD’s “white” list of countries that have substantially implemented the globally agreed tax standard.



Barbados and the USVI are the other two Caribbean states in the OECD top tier.