The Bahamas abandons tax haven status

AP March 11, 2010, 6:40 am
The Bahamas has agreed to share information regarding money held by tax evaders on the islands' accounts.

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The Bahamas has been removed from an international list of uncooperative tax havens by signing information exchange pacts with several Nordic nations.

Pascal Saint-Amans is a spokesman for the Paris-based Organisation for Economic Co-operation and Development, which is leading a global fight against tax havens.

He says the group on Wednesday promoted the Bahamas to its list of countries that comply with international tax standards.

The change was made hours after Nassau signed tax information exchange pacts with Norway, Sweden, Finland, Denmark, Iceland, Greenland and the Faroe Islands.

In recent months, the Bahamas has forged tax treaties with 11 other nations, including China and the United States.


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