The European Union’s revised list of non-cooperative jurisdictions for tax purposes was released on
Tuesday. The Bahamas was listed as one of those jurisdictions remaining on the EU’s list of non-
cooperative for tax purposes.
The EU’s determination was based on the recommendation of the OECD’s Forum on Harmful Tax
Practices (“FHTP”) meeting held in April 2023, before many of our reforms for economic substance were
implemented.
The FHTP will meet again at the end of this month. The Government of The Bahamas is cautiously
optimistic for a favourable review by the FHTP. A favourable review by the FHTP at the end of month will
be considered by the EU in their February 2024 meeting. The Government of The Bahamas has and
continues to do everything in its power to address the compliance with the economic substance regime.
The Government of The Bahamas has made considerable progress over the last year and this is reflective
in the non-compliance on the BEPs Action 13 Country-by-Country Reporting being removed from the
EU’s determination.