The Bahamas has blasted the European Union (EU) for placing the country on a blacklist based on outdated information.
The Bahamas Government said the EU’s determination was based on the recommendation of the Organization for Economic Cooperation and Development (OECD) Forum on Harmful Tax Practices (FHTP) meeting held in April 2023, before many of its reforms for economic substance were implemented.
The Bahamian Ministry of Finance said that the FHTP will meet again at the end of this month and that the government “is cautiously optimistic for a favourable review by the FHTP, Loop News reports.
The EU on Tuesday named Antigua and Barbuda and Belize as the latest CARICOM countries that are regarded as “non-cooperative jurisdictions for tax purposes.”
In addition, the EU also named Seychelles to the list, while at the same time removing the British Virgin Islands (BVI), Costa Rica and Marshall Islands from the list.
