NASSAU, Bahamas
- A Tax Information Exchange Agreement (TIEA) was signed between the
governments of The Bahamas and the Republic of San Marino, at the 64th
Session of the United Nations General Assembly in New York on Thursday,
September 24.
Deputy Prime Minister and Minister
of Foreign Affairs the Hon Brent Symonette signed the agreement, which
will enable cooperation in tax matters between both countries. It was
the third that The Bahamas Government has concluded.
The Bahamas and the Republic of San Marino signed a Tax Information Exchange Agreement at the 64th Session of the United Nations General Assembly in New York, Thursday, September 24. Pictured are Deputy Prime Minister and Minister of Foreign Affairs the Hon Brent Symonette, left, and Minister of Foreign and Political Affairs, Antonella Mularoni, the Republic of San Marino. (Photo/Bahamas Consul General Office, New York)
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The Minister of Foreign and
Political Affairs, Antonella Mularoni signed on behalf of the Republic
of San Marino.
“The signing of this agreement
supports the ongoing effort being made by the Government of The Bahamas
to meet its commitment to implement the standards for transparency and
information exchange in tax matters that were developed by the Organisation
for Economic Cooperation and Development (OECD),” Mr Symonette said.
These standards were also adopted
by the United Nations and are supported by the declarations of the G-20
Group of Nations.
“The Bahamas and San Marino
share much in common. We are both small nations and our economies are
mainly services based,” Mr Symonette said.
Deputy Prime Minister and Minister of Foreign Affairs the Hon Brent Symonette, left, and Minister of Foreign and Political Affairs, Antonella Mularoni of the Republic of San Marino, exchange copies of a Tax Information Exchange Agreement signed between both countries at the 64th Session of the United Nations General Assembly in New York, Thursday, September 24. (Photo/Bahamas Consul General Office, New York)
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He added that The Bahamas looks
forward to continued productive and cooperative relations with the Republic
of San Marino, as both nations adjust to the challenging demands of
an ever-changing global financial and economic landscape, and the emerging
framework that is being developed in response to this.
“As members of the United
Nations, The Bahamas and San Marino have a unique opportunity to present
the important perspective of small states in the global financial order,”
Mr Symonette said.
The OECD was established in
1961. It’s mission is to bring together the governments of countries
committed to democracy and the market economy from around the world
to support sustainable economic growth, boost employment, raise living
standards, maintain financial stability, assist other countries’ economic
development, and contribute to growth in world trade.
