Tuesday, February 23, 2016

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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From a Foreign Bank?
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