Although the Tax Information Exchange Agreement (TIEA) \u2013 signed with Japan yesterday \u2013 is the twenty-third for The Bahamas, for this jurisdiction, it is the first of its kind as it includes double taxation relief.<\/p>\n
The signing ceremony took place at the Ministry of Foreign Affairs with Deputy Prime Minister and Minister of Foreign Affairs Brent Symonette signing for The Bahamas and His Excellency Hiroshi Yamaguchi, Japan\u2019s ambassador to Jamaica and non-resident ambassador to The Bahamas, signing for Japan.<\/p>\n
\u201c[This TIEA] is a first, but by no means the last, of its kind for The Bahamas. It demonstrates the range and diversity of tax cooperation that countries have the opportunity to engage in, bilaterally, for their mutual economic benefits,\u201d said Symonette.<\/p>\n
Previous TIEAs allowed for cooperation on tax matters at internationally-accepted standards, but this TIEA goes further. It spells out certain exclusive taxing rights between the two nations on income for designated groups of students, pensioners and government employees.<\/p>\n
\u201cThis is indeed epoch-making, because this is the first agreement which requires ratification procedures at Japan\u2019s National Diet,\u201d said Yamaguchi. The National Diet of Japan refers to its two legislative bodies, the lower and upper houses.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Tax Information Exchange Agreement (TIEA) \u2013 signed with Japan yesterday \u2013 is the twenty-third for The Bahamas, but the first that includes double taxation relief.<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[108],"class_list":["post-5962","post","type-post","status-publish","format-standard","hentry","category-business","tag-taxes"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/5962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=5962"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/5962\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=5962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=5962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=5962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}