TAX INFORMATION EXCHANGE TREATY WITH THE BAHAMAS AND COOK ISLANDS

The Lower House approved a Tax Information Exchange Treaty entered into with the Bahamas, and a similar Tax Information Exchange Treaty with the Cook Islands in Auckland was signed by the State. However, the Treaty with the Cook Islands has not yet been ratified. Both treaties’ aim is to help reinforce a mutual exchange of information with jurisdictions enjoying preferential tax treatment and seek to combat tax evasion and fraud.