The OECD has announced that on 15 December 2017, the Bahamas signed the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters as amended by the 2010 protocol. The Convention must now be ratified by the Bahamas and the ratification instrument deposited before entering into force in the country.
Earlier in the week, the Bahamas also signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information, which provides for the exchange of information under the OECD Common Reporting Standard (CRS). The Bahamas intends to begin the first exchanges by September 2018.
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