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Ten Bahamas TIEAs in force

The Bahamas now has ten Tax Information Exchange Agreements (TIEAs) in force, with a further 13 that have been signed but not yet in effect. The information exchange treaties are part of government efforts to comply with international standards stipulated by the G20 and Organisation of Economic Co-operation and Development (OECD) member countries. 

Source:
Date:
Updated:
TheBahamasInvestor.com
Monday, February 14, 2011
Monday, February 14, 2011

Below is an update on the Tax Information Exchange Agreements (TIEAs) signed by The Bahamas, compiled by the Bahamas Financial Services Board (BFSB).


Signed agreements enter into force only when the necessary internal procedures in the signatory countries have been completed. The effective date of an agreement depends on the specific provisions contained in that agreement.

TIEAs signed by the government of The Bahamas, and which have entered into force, include:

Country Date Signed Date of Entry Into Force
United States of America 25th January 2002 29th December, 2003
People’s Republic of China 1st December 2009 28th August, 2010
French Republic 7th December 2009 13th September, 2010
Republic of Finland 10th March 2010 9th September, 2010
Kingdom of Norway 10th March 2010 9th September, 2010
Kingdom of Denmark 10th March 2010 9th September, 2010
The Faroes 10th March 2010 24th October, 2010
Kingdom of the Netherlands 4th December 2009 1st December, 2010
Kingdom of Sweden 10th March 2010 24th December, 2010
United Mexican States 23rd February 2010 30th December, 2010

TIEAs that have been signed by the government, but which are not yet in force, include:

Country Date Signed
Principality of Monaco 18th September 2009
Republic of San Marino 24th September 2009
United Kingdom of Great Britain and Northern Ireland 29th October 2009
New Zealand 18th November 2009
Argentine Republic 3rd December 2009
Kingdom of Belgium 7th December 2009
Greenland 10th March 2010
Iceland 10th March 2010
Kingdom of Spain 11th March 2010
Australia 30th March 2010
The Federal Republic of Germany 9th April 2010
Canada 17th June, 2010
Japan 27th January, 2011
India 11th February, 2011

 

New government office buildings on schedule to be completed by summer this year. The $19-million administration complex in the centre of Freeport will house a variety of government departments.

The Bahamas government signs a Tax Information Exchange Agreement (TIEA) with India in Nassau. This brings the total number of TIEAs signed to 24, the third with a major Asian economy, following agreements with China and Japan.

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