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Ownership Registry Is ‘Not Set In Stone’

Attorney General Carl Bethel QC. Photo: Terrel W Carey/Tribune Staff Legislation to create a central Beneficial Ownership Registry is “not set in stone”, the Attorney General has revealed, with the Government seeking “urgent” consultation on the issue. Carl Bethel QC, addressing a Bahamas Financial Services Board (BFSB)-sponsored seminar, said the...

West Africa Leaks: How Billions are Leaving Africa for Offshores

Multinationals, politicians, corporate moguls, and European consuls all used offshore companies and bank accounts to hide money and avoid taxes in West Africa, according to an investigation by the International Consortium of Investigative Journalists released Tuesday. Senegal is one of the poorest countries in the world, but this didn’t stop...

Tax Competitiveness in India: Changing Rules, Trends in Taxation

Ease of doing business and tax reforms are at the center of India’s growth agenda as the country pitches itself as the leading investment destination among global emerging markets. Yet, India’s tax competitiveness record remains mixed. At a time when the U.S., U.K., and Japan have slashed their corporate tax...

$1.745m Software Deal To Facilitate Tax Exchange

The Ministry of Finance has embraced a software solution from Vizor AEOI Software to help meet its automatic tax information exchange (AEOI) commitments. The Bahamas will use Vizor’s solution to meet its obligations under the Organisation for Economic Co-Operation and Development (OECD)’s Common Reporting Standard (CRS), and its Foreign Account...

Bahamas Slips In Half OECD ‘Peer Review’ Criteria

The Bahamas slipped slightly in its latest OECD “peer review”, although it maintained its “largely compliant” ranking amid beneficial ownership and tax information exchange concerns. The just-released full Organisation for Economic Co-Operation and Development (OECD) report, produced by its Global Forum on transparency and tax information exchange, showed The Bahamas...

Deloitte: Romania faces growing fiscal competition as 8 EU member states cut corporate tax rates since 2017

Romania will be able to count less on the low taxation advantage in order to attract investments due to growing competition, after eight EU member states have reduced their corporate tax rates since 2017, according to a study released by Deloitte Romania. “Even in the new context, the Romanian corporate...

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