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Bahamas Signs Protocol to Amend the Tax Information Exchange Agreement with the Republic of Finland

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#Bahamas, October 20, 2017 – Nassau – Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest said tax evasion and avoidance are common problems experienced by many Jurisdictions, and erodes the basis of tax systems and destroys the reputation of legitimate and credible international financial centres.

DPM Turnquest was speaking at the signing ceremony of the Protocol to Amend the Tax Information Exchange Agreement between the Government of The Bahamas and the Government of the Republic of Finland concerning information on tax matters held at the Ministry of Finance, Thursday, October 19, 2017.   Ambassador of Finland to the Caribbean His Excellency Jukka Pietikäinen signed on behalf of the European nation.

DPM Turnquest said, “By the implementation of the Common Reporting Standard, The Bahamas shows its intent on remaining a well regulated, compliant and legitimate International Financial Centre with a strong Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regime.”

On March 10, 2010 The Bahamas signed a Tax Information Exchange Agreement with the Government of the Republic of Finland concerning information on tax matters in Paris, France.

In 2014, The Bahamas committed to implementing the Organisation for Economic Cooperation and Development’s (OECD’s) Global Forum Common Reporting Standard (CRS) for the automatic exchange of financial account information, thereby demonstrating the commitment to greater tax cooperation transparency and exchange of information for tax purposes.

The DPM also noted that The Bahamas Automatic Exchange Financial Account Information Act came into force on January 1, 2017, and the Automatic Exchange Financial Account Information (AEOI) Regulations 2017 was approved and brought into force on March 7, 2017.   He said that The Bahamas extends congratulations to the Republic of Finland as it commenced its exchanges last month.

“The Bahamas will commence exchanging financial account information with its AEOI partners in September 2018.   By signing this Protocol today, The Bahamas and the Republic of Finland will now be AEOI partners.”

DPM Turnquest said it is noteworthy to mention that at the onset, The Bahamas chose the OECD Global Forum’s Bilateral Approach as a method of automatically exchanging information; however, on May 29, 2017, The Bahamas Government formally indicated to the organisation, its interest in becoming a Party to the Multi-lateral Convention for Mutual Assistance on tax matters.

“The Bahamas will continue assisting and cooperating with Jurisdictions in the effort to deter and prevent tax evasion and avoidance and increase transparency and exchange of information for tax purposes.”

His Excellency Pietikäinen said interesting developments have occurred between the two countries since The Bahamas and the Republic of Finland initiated Diplomatic Relations almost 12 years ago.   One such project involves The Bahamas Government utilising weather radar systems made by a Republic of Finland company, and training on the systems will be done by the Finnish Meteorological Institute.

By: Llonella Gilbert (BIS)

 

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Bahama Brass Band Invitation Sparks Heritage Debate Ahead of TCI Constitutional Holiday

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Turks and Caicos, August 20, 2026 – The planned participation of the Bahama Brass Band in the Turks and Caicos Islands’ inaugural Constitutional Holiday celebrations on August 30 has sparked public debate over culture, heritage and the historical contributions of Turks and Caicos Islanders abroad.

Organizers defended the invitation, saying the band’s inclusion is intended to highlight the deep historical ties between the two countries and honor Turks and Caicos men who helped establish and develop the institution in Grand Bahama.

According to the organizers, the Bahama Brass Band began in 1955 in Pine Ridge, Freeport, with Turks and Caicos Islanders, including the late Deacon Reuben Hall Sr. of Middle Caicos and Jenkins Williams and Mervin Hendfield of North Caicos, among those who helped build its foundation. The band eventually grew to more than 50 men.

The organizers also pointed to the participation of Turks and Caicos men in The Bahamas’ Independence celebrations on July 10, 1973, arguing that their contributions became part of Bahamian history while maintaining strong connections to their homeland.

Supporters say bringing the band home represents an opportunity to honor those pioneers, showcase their regional influence and expose younger generations to an important part of Turks and Caicos history.

However, concerns raised publicly described the invitation as potentially disrespectful to local culture and heritage. Organizers acknowledged those concerns, apologizing to anyone who felt overlooked or offended, while maintaining that no disrespect was intended.

The committee said the event should ultimately unite rather than divide, presenting the band’s history as evidence of the reach and resilience of Turks and Caicos heritage.

PHOTO CREDIT: Bahamas Brass Band

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CBC Supports Opportunities for Young Bahamian Basketball Players

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Dasani products, proudly sponsored the fifth annual, Caribbean Hoopfest.

The tournament brings together Bahamian high school basketball teams and visiting teams from the United States for a competitive showcase at the Kendal G. L. Isaacs Gymnasium.  Following its inaugural year at the Kendal G. L. Isaacs gym and last year’s event at Loyola Hall, the tournament returned to the Kendal G. L. Isaacs gym this year.

During the weekend tournament, CBC kept athletes well hydrated with in-kind donations of Dasani Water, Powerade and Minute Maid Juices.

During the tournament’s final day, CBC provided additional support by offering Sprite No Sugar samples and inviting attendees to participate in its Spin the Wheel for a chance to win exciting prizes.

CBC was proud to support this incredible event, which provides young Bahamian athletes with valuable exposure to U.S. basketball scouts and coaches. This opportunity gives them the chance to earn scholarships, continue their education, and pursue their basketball careers in the United States.

Event organizer, Donald Francois shared his appreciation for CBC’s support.

“I want to express our sincere appreciation for Caribbean Bottling Company, who has been a tremendous supporter and an important part of the success of our program. Without CBC’s support, Caribbean Hoop Fest would not be able to function at the level it does today. And without Caribbean Hoop Fest, we would not have been able to provide the opportunities that have helped young Bahamian athletes gain exposure and pursue educational opportunities in the United States,” he expressed.

Since the program’s inception, several Bahamian student-athletes have been selected for scholarship opportunities, highlighting the tournament’s growing impact on the development and advancement of young basketball talent in The Bahamas.

They are: Kelvin McDowells – Guard, Wodson Antoine – Power Forward, Justin Lafleur – Guard and Sean John – Guard.

After another successful edition of the tournament, Francois shared what he hopes he and Caribbean Bottling Company can achieve in the future.

“Our vision is bigger than basketball. We want to use the platform of Caribbean Hoop Fest to educate, develop, and create opportunities for young people and their families throughout the Bahamas. With individuals and organizations committed to our mission, we believe we can continue to grow the program and make an even greater impact,” Francois said.

For more details on community support, events and new products visit Caribbean Bottling Company at www.cbcbahamas.com today.

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More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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