Bahamas: Dodge Taxes And You’ll End Up In Court
TAX dodgers will be subject to criminal charges before the court under the government’s proposed amendment to the Penal Code.
#As the amendment brings tax evasion into the category of criminal acts, Finance Minister K Peter Turnquest said it debunks the notion that The Bahamas is a tax haven as is the view of international bodies, including the G20, EU and the Organisation for Economic Co-operation and Development (OECD).
#The Penal Code Amendment Bill 2018 described by the minister as a “landmark bill” was included in the compendium of bills debated in the House of Assembly yesterday. The government wants to pass the bills to ensure it can maintain favourability in the eyes of international regulators ensuring there is no future blacklisting.
#The East Grand Bahama MP said: “It is now a crime to intentionally defraud the government of its revenue. This bill brings tax evasion within the lexicon of criminal acts in The Bahamas and is a landmark bill whose time has come.
#“In making tax evasion an offence within The Bahamas, and we are debunking the notion that The Bahamas encourages tax evasion or protects tax dodgers, and we are counteracting the stigma associated with being regarded as a tax haven.