Bahamas Consulting on Draft Legislation for a Pillar 2 Qualified Domestic Top-Up Tax

The Bahamas Government has launched a public consultation on draft legislation for a Pillar 2 Qualified Domestic Minimum Top-Up Tax (QDMTT) for in-scope MNEs operating within the Bahamas, the Domestic Minimum Top-Up Tax Bill 2024. The consultation paper notes that during the various discussions undertaken with the private sector, it has been made clear to the Government that MNE groups would rather pay tax on their Bahamian profits in the Bahamas than elsewhere through an income inclusion r…