Bahamas signs tax agreement

The Bahamian government has signed its 20th international tax exchange treaty with Australia, further strengthening the country’s standing in the eyes of the world’s leading economic powers.



The Bahamas’ envoy to the United States, Ambassador Cornelius Smith, says he’s satisfied that its expanding network for tax information exchange improves the country’s ability to benefit from the changing global regulatory environment.



The Bahamas recently graduated to a white list of jurisdictions that have implemented the internationally agreed tax standard set by the Paris-based Organization for Economic Cooperation and Development.



Countries are required to sign at least 12 tax information exchange agreements to satisfy the established standard.