A bill concerning the automatic exchange of financial account information (AEOI) on 7 December 2016 was presented before the Parliament by the Minister of State for Finance.
This action with respect to the AEOI bill is a step toward implementing the common reporting standard (CRS) and the requirement for due diligence for financial account information in tax matters. The first exchange of information on an automatic basis, with appropriate partner countries that have concluded a negotiated bilateral agreement with The Bahamas, will be in September 2018.
For more information, contact a KPMG tax professional in The Bahamas:
Jane Adams | +1 (242) 393-2007 | email@example.com
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