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Article: An Agreement is Reached with the OECD.(The Bahamas to meet standards of Organization for Economic Cooperation and Development)(Brief Article)
- Article from:
- Mondaq Business Briefing
- Article date:
- March 28, 2002
CopyrightCOPYRIGHT 2002 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Bahamas has emerged from its OECD discussions on international financial services with a unilateral commitment premised on the establishment of a level playing field for all centers conducting international financial services activities. The Bahamas has agreed to keep pace with developments adopted by OECD and non-OECD centres, so ensuring preservation of the competitive status of The Bahamas. No changes are proposed to the longstanding tax-free environment for international business, including no income tax, no corporation tax, no capital taxes and no withholding taxes.
As one of the world's leading centres for international financial services, The Bahamas ...