Speaking at a press conference on Monday, Bahamian Prime Minister, Perry Christie announced the creation of two new commissions tasked with reviewing the country’s tax regime in the light of future World Trade Organisation, Free Trade Area of the Americas, and CARICOM Single Market and Economy membership.
The Nassau Guardian reported that the newly created 22-member Commission on Trade Liberalisation and Globalisation was introduced on Monday, and told by the Prime Minister that:
‘Your task will be to advise the Government on the administrative and institutional framework for the development of an effective response to globalisation and the trade liberalisation process.’
Also announced on Monday, according to the local newspaper, was the establishment of the Office of the Bahamas Trade Commission. The OBTC, according to Minister for Trade and Industry, Leslie Miller, is set to play ‘a pivotal role’ in advising the government on trade liberalisation, globalisation, and related tax issues.
By Amanda Banks, Tax-News.com
