Bahamas Information Services Updates
(VIDEO) The Bahamas and San Marino sign Tax Information Exchange Agreement
By Lindsay Thompson, BIS
Sep 24, 2009 - 6:41:39 PM

  NASSAU, Bahamas  - A Tax Information Exchange Agreement (TIEA) was signed between the governments of The Bahamas and the Republic of San Marino, at the 64^th 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)

 

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)

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.