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The Bahamian Has Affirmed That It will Implement the OECD Common Reporting Standard (CRS) Through Bilateral Agreements

The Bahamian Has Affirmed That It will Implement the OECD Common Reporting Standard (CRS) Through Bilateral Agreements

The Bahamian government re-affirmed that it will implement the OECD Common Reporting Standard (CRS) through a series of bilateral agreements, and not through automatic multilateral disclosure.

The Bahamas has chosen to embrace the 2018 start of automatic information exchange by entering into such treaties on a bilateral (country-to-country) basis rather than a multilateral one. Its first automatic exchanges with 'appropriate' partner countries will be in September 2018.

A similar policy has been adopted by Switzerland and Hong Kong, among others.

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Sources:

Read more at: Tax Times blog

 
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