<p><span style="font-family: Calibri;" face="Calibri"><span style="font-size: medium;" size="3">The Government of the Bahamas got an official letter from Head Quartier of EU Code of Conduct for business. The letter includes an important information about the decision for deleting the Bahamas from tax black-list for offshore jurisdictions countries.</span></span></p><p><span style="font-family: Calibri;" face="Calibri"><span style="font-size: medium;" size="3">  Only a month ago, on March 13, EU made decision for joining the Bahamas to countries of unconsolidating rules of taxation. Virgin Islands and Federation of Saint Kitts and Nevis will also be included in the list, where now there are 9 positions.</span></span></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">  The Euro Union is seriously worrying about politic of taxation on all offshore territories, for this reason EU members cooperate only with countries which support their politics position.</span></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">  Although this black-list is using only for information nevertheless it has a big influence for choosing of business partners and contractors.</span></p><p><b><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">  </span></b><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">Since entering the list, the Bahamas has immediately initiated cooperation with the Commission of the European Union Code of Conduct for the purpose of excluding it, as announced by Prime Minister Terquest. This unit decides to include or exclude one or another offshore jurisdiction in the "black list". At the moment the cooperation of the Bahamas with the Code could lead to a positive outcome in terms of graduation.</span></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">  More details about the entry of the Bahamas into the "black list" of the EU: "Countries from the" black list "deprived of access to the funds of the European Union".</span></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">  The Bahamas are eager to adapt their legislation to the requirements of the EU and plan to implement all amendments until December 2018. Only if these conditions are fulfilled will the islands become highly competitive tax jurisdictions. In this case, the Bahamas will meet the requirements of the OECD initiative (Organization for Economic Cooperation and Development).</span></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3"> </span></p><p><b><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">Steps to exclusion the Bahamas from the list of countries of incompatible tax jurisdictions.</span></b><b><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3"> </span></b></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">  The meeting of the EU delegation, which decided to recommend the exclusion of the Bahamas from the "black list", was held on April 12. The decision was passed to the Council on Economic and Financial Affairs of the EU, it is officially responsible for such statements. The final decision on this issue will be made at the next meeting, which will be held on May 25.</span></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3">  In turn, the Ministry of Finance of the Bahamas will continue to implement policies that will help preserve and protect the reputation of the island's jurisdiction as an international financial center. Also, the government will continue to adhere to international regulatory standards and will support financial regulators that reduce the number of financial crimes - money laundering and terrorist financing. </span></p><p><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3"> </span></p><p><b><span style="font-family: Calibri;" face="Calibri"><span style="font-size: medium;" size="3"> Aspiration of the Bahamas to international standards provides business benefits.</span></span></b><b><span style="font-family: Calibri; font-size: medium;" face="Calibri" size="3"> </span></b></p><p>  The targeted policy of the Bahamas aimed at becoming a recognized international financial center opens up good business opportunities in the Bahamas. In turn, the government's desire to be excluded from the "black list" of incompatible tax jurisdictions of the EU confirms participation in an active dialogue with the Code of Conduct and EU members. Such a policy will lead to the fact that companies registered in the Bahamas will be able to actively conduct commercial activities with the countries of the European Union.<span><br /></span></p>