Japan and the Bahamas on February 9 signed a protocol to their tax information exchange agreement (TIEA), agreeing to upgrade the agreement by providing for automatic exchange of financial information, Japan’s Ministry of Finance has announced.
Once approved, the Japan-Bahamas TIEA amendments would apply to taxes levied during taxable years beginning on or after January 1, 2017, or taxes levied after that date if not levied on the basis of a taxable year.
The Ministry said the new agreement provides for information exchange based on the latest international tax standards.
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