Bahamas defends introduction of tax legislation aimed at multinational corporations

NASSAU, Bahamas (CMC) – Prime Minister Phillip Davis says the Domestic Minimum Top-up Tax Bill is intended to generate revenues of up to US$140 million that could be used to support the country’s transformative, people-focused agenda. He told Parliament that the legislation, which is the first-ever corporate income tax introduced in The Bahamas, will raise revenues without negatively impacting Bahamian businesses in this country. “For those listening intently who are not sure what this new t...