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Third Meeting of the Peer Review Group of the Global Forum on Transparency and Exchange of Information for Tax Purposes, 20 - 22 July 2010, Nassau, Bahamas

(BIS/ Photo Raymond A. Bethel)

The Bahamas hosted the Third Meeting of the Peer Review Group of the Global Forum on Transparency and Exchange of Information for Tax Purposes, from Tuesday, 20 July to Thursday, 22 July 2010 at the Wyndham Nassau Resort and Crystal Palace Casino. The Peer Review Group (PRG) was established by the Global Forum in September 2009, as a technical working group consisting of representatives of 30 countries, including The Bahamas.

In addressing the meeting, Minister of State for Finance the Hon Zhivargo Laing said The Bahamas remained focused on meeting its obligations as a member of the international community.

"The Bahamas is pleased to host this important meeting of the Peer Review Group, the first that will receive draft reports under the new Peer Review process launched in March this year," Mr. Laing said as he opened the three-day meeting.

The modern global economy has highlighted the need for unprecedented levels of cooperation amongst national governments of the world, both to sustain development and to combat abuses," Mr. Laing said.

He added, "The Bahamas remains focused on promoting the sustained development of our economy for the benefit of our citizens while fulfilling our obligations as a responsible member of the international community."

Francois D' Aubert, chairman of the Peer Review Group thanked The Bahamas for "recognising the need" to host such a meeting, as countries monitor the progress of the work of the PRG.

 

Whilst in the Bahamas OECD representatives paid a courtesy call on Financial Services professionals including representatives of the Bahamas Financial Services board, the Bahamas Bar Association and Bahamas Institute of Chartered Accountants on Monday, July 19, 2010 at the Ministry of Finance.

The Bahamas Ministry of Tourism hosted a Welcome Reception for participants of the OECD Forum on Tuesday, July 21, 2010 at the Wyndham Nassau Crystal Palace and Casino on Cable Beach.

In March 2010, The Bahamas achieved the minimum standard of 12 signed TIEAs that was required in order to be removed from the OECD/G20 grey list. As of Thursday 17 June 2010, twenty-two TIEAs have been signed by The Bahamas, including agreements with the United States,  the United Kingdom, New Zealand, the People's Republic of China, Argentina, the Netherlands, Belgium, France, Mexico,  Spain, Australia, Germany and Canada.

 OECD Representatives paid a courtesy on Minister of State for Finance, the Hon. Zhivargo Laing on Monday, July 19, 2010. The Group is in The Bahamas for the Third Global Forum Meeting, being held at Wyndham Nassau Resort and Crystal Palace Casino July 20 - 22. Pictured from left are Pascal Saint-Amans, head of the Global Forum Secretariat OECD Centre for Tax Policy and Administration; Minister Laing; and Francois D'Aubert, chairman of the Peer Review Group. (BIS/ Photo Raymond A. Bethel)