Bahamas Prime Minister Presents 2023-2024 Mid-Year Budget Statement

The Bahamian Prime Minister Feb. 21 presented to Parliament the 2023-2024 mid-year budget statement. The statement describes measures to: 1) ensure 15 percent global minimum taxation under OECD Pillar 2 through a qualified domestic minimum top-up tax (QDMTT), for multinational enterprise (MNE) groups with at least 750 million euros (US$811.7 million) in revenue, with the groups possibly accruing these taxes for 2024, after public consultation; 2) introduce a public sector contributory pension plan regime, after public consultation; 3) revise the legal framework for the automatic exchange of financial account information (AEOI) under the common reporting standard (CRS), to keep pace ...