Bahamas Govt. and Govt. of Japan exchange diplomatic notes

Deputy Prime Minister and Minister of Finance K. Peter Turnquest made a courtesy call on Japanese diplomats on November 12 in Tokyo, Japan. The Government of The Bahamas and the Government of Japan exchanged diplomatic notes relating to the Protocol to amend the Tax Information Exchange Agreement between the two countries.

During a courtesy call on November 12 in Tokyo, Japan the Government of The Bahamas and the Government of Japan exchanged diplomatic notes relating to the Protocol to amend the Tax Information Exchange Agreement between the Government of The Bahamas and the Government of Japan for the Exchange of Information for the purpose of the prevention of fiscal evasion and the allocation of rights of taxation with respect to income of individuals.

The Bahamas and Japan commenced an Exchange of Information for tax purposes relationship when The Government of The Bahamas and the Government of Japan concluded a Tax Information Exchange Agreement in January, 2011.

The Bahamas and Japan continued to develop its exchange of information relationship, which, after the onset of the OECD’s Global Forum Common Reporting Standard (“CRS”) for the automatic exchange of financial account information, resulted in the signing of the Protocol to amend the Tax Information Exchange Agreement on the 9th February, 2017, at the Ministry of Finance.

The Government of The Bahamas looks forward to a continued mutual relationship with the Government of Japan with respect to Exchange of Information for tax purposes.