Bahamas And Germany Sign TIEA

by Ulrika Lomas, Tax-News.com, Brussels

12 April 2010

The Bahamas signed a Tax Information Exchange Agreement (TIEA) with Germany on April 9.

The Agreement was signed by Brent Symonette, Bahamas Deputy Prime Minister and Minister of Foreign Affairs, and Jurgen Engel, Germany’s Ambassador to the Bahamas.

Symonette noted that the conclusion of the agreement with Germany is further evidence of cooperation between the two parties, following the work they shared in the previous Committee on Level Playing Field Issues. Symonette said: “It is evident from the involvement of both of our governments in the international cooperation work of the UN and the OECD, as well as the conclusion of this TIEA today, that there is mutual commitment to the effective implementation of accepted international standards for financial regulation and cross-border cooperation.”

The agreement is the twenty-first tax information exchange agreement that the Bahamas has concluded, fifteen of which have been signed with OECD members and eight with members of the G-20.

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