Agreement to combat tax evasion signed with the Bahamas
The Nordic countries signed an agreement on exchange of information with the Bahamas on Wednesday. Information exchange agreements are part of a Nordic Council of Ministers' project to strengthen global efforts to prevent tax evasion.
The Nordic countries signed an agreement on exchange of information with the Bahamas on Wednesday. The agreement is part of a Nordic campaign to stop tax evasion.
- Photographer
- Johannes Jansson/norden.org
The project has received very favourable attention in the OECD (Organisation for Economic Co-operation and Development) and contributed to strengthening the Nordic position internationally in these matters. Since negotiations started in 2007 the Nordic countries have signed information exchange agreements with Aruba, Andorra, the Bahamas, Bermuda, Guernsey, Isle of Man, Jersey, the Netherlands Antilles, the Cayman Islands, the British Virgin Islands, Anguilla, the Turks and Caicos Islands, Gibraltar, the Cook Islands, Samoa and San Marino. In addition, Denmark has entered an agreement with St. Lucia, St. Vincent and the Grenadine Islands, St. Kitts and Nevis, as well as Antigua and Barbuda.
The agreement provides the Nordic tax authorities with access to information about the capital dispositions and incomes of citizens with tax arrears and could reveal assets and earnings not declared at home.
The information exchange agreements are constitutional and bi-lateral. In every case in which the Nordic countries enter into an information exchange agreement, the agreement is presented to the country's parliament for approval.
The agreement was signed on Wednesday 10 March 2010 at a ceremony in the Danish embassy in Paris.
Contacts
Torsten Fensby, Project Manager, Nordic Council of Ministers +33 678 251 289
