Bahamas News

Bahamas avoids tax haven naughty list by EU, only months to shape up

#Bahamas, December 6, 2017 – Nassau – Hallelujah, no blacklist for The Bahamas by the European Union when it comes to being labeled a ‘tax haven’ and while the Finance Minister is breathing a sigh of relief and expressing gratitude, he is cautiously doing so according to reports.

“Least developed countries without financial centers were automatically excluded from the screening process, while other developing countries without financial centers were given more time to address their shortcomings,” was the explanation given by the European Union.   Deputy PM and Minister of Finance, Peter Turnquest said “so far, The Bahamas seems to be “escaping” a blacklist, gray list, or “any other kind of list. We are very grateful for that,” he said.

The Bahamas did however make one list according to a news report, a list of eight jurisdictions on watch that were impacted “badly” by hurricanes this summer.   As for how much time The Bahamas has to respond to those EU concerns, ‘early 2018’ which still means the country has to get its act together within three to four months.




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