On 13 May 2020, the Office of the Attorney General of The Bahamas issued a Questions and Answers (“Q&A”) document outlining the stated criteria for the proposed inclusion of The Bahamas on a recent European Union listing and The Bahamas response (Link).
In March 2019, The Bahamas was placed on the EU’s Annex II “the greylist”. While different from the more serious Annex I “the blacklist” of the EU List of Non-Cooperative Jurisdiction for Tax Purposes, The Bahamas was still subject to ongoing monitoring by the EU with respect to the implementation of economic substance requirements (Link-Blog).
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