Developments in Tax Transparency: Will this impact you?

Tax Information Exchange Agreement signed between Malta and the Bahamas

31 Jan 2012

< 1 min read

A Tax Information Exchange Agreement (TIEA) has been signed between Malta and the Bahamas enabling a full exchange of information between the two countries on tax matters.

Joseph Zammit Tabona, Malta’s High Commissioner, signed on behalf of the Government of Malta whilst H.E. Paul Farquharson QPM, the Bahamas’ High Commissioner signed on behalf of the Government of the Commonwealth of The Bahamas at the Malta High Commission offices in London.

Joseph Zammit Tabona said this Agreement “is instrumental for bilateral relations to be strengthened” and “demonstrated good practice in the global financial sector.” H.E. Paul Farquharson continued to say that “this level of cooperation signifies the goodwill that exists between our two countries.”

The two signatories confirmed the agreement included mechanisms to ensure due process was followed in tax information requests between the respective countries. The TIEA will also adhere to public policy considerations and provisions related to protecting legal privilege.

Malta and the Commonwealth of the Bahamas are both members of the OECD Global Forum on Transparency and Exchange of Information. For more information about Malta’s Double Tax Treaties or Corporate Taxation, please direct your query here.