Attorney General Carl Bethel

France announces country added to its tax haven ‘blacklist’

NASSAU, BAHAMAS – France has added The Bahamas to its blacklist of tax havens, with Attorney General Carl Bethel telling Eyewitness News Online yesterday, “we are in discussion with French Authorities”.

French media outlets have reported that France has added Anguilla, Virgin Islands, Bahamas and Seychelles to its blacklist.

Public Accounts Minister Gerald Darmanin was said to have made the announcement on Sunday.

Darmanin in an interview with the Journal du Dimanche said: “Before the report of the Court of Auditors on tax evasion, I announce that we will blacklist four new countries: Anguilla, the Virgin Islands, the Bahamas and the Seychelles, which are not cooperative enough in terms of financial transparency.”

Attorney General Bethel told Eyewitness News Online: “As I understand it France is advising that they may blacklist us. I’m not aware that it has gone beyond foreshadowing by their Minister.”

When asked whether there was any cause for concern in that regard, Bethel said: “We are in discussions with French authorities.”

Earlier this year The Bahamas avoided being blacklisted as a tax haven by the European Union (EU).

Several bills have been passed in Parliament to help facilitate the cooperation of The Bahamas as a financial jurisdiction.

The bills include the Multinational Entities Financial Reporting Act, 2018; the Commercial Entities (Substance Requirements) Act, 2018; the Removal of Preferential Exemptions Act, 2018; and the Beneficial Ownership Act, 2018, among others.