Only July 1st, 2021 The Government of The Bahamas officially expressed its support, for the proposals of the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting to reform the global taxation system. These proposals and the accompanying rules for international taxation are geared at addressing the tax challenges arising from the digitalization of the global economy.
Attached is a copy of Government's press release as well as the OECD/G20 Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalisation of the Economy.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.