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The Bahamas, European Union
The government in the Bahamas has hailed a decision by the European Union to remove it from a so-called "grey list," defined as “non-cooperative jurisdictions for tax purposes.” The EU had added it back on this list in October 2022 after having removed it two years earlier.

The Council of the European Union published its move on February, 20.

“The removal of The Bahamas from the EU’s list clearly underscores the significant progress made over the past year by The Bahamas in addressing the concerns identified by the OECD’s Forum on Harmful Tax Practices (“FHTP”) and the EU last year,” the Ministry of Finance in the jurisdiction said in a statement. 

“The Bahamas will continue to remain aggressive in its approach to exchanges of information and take proactive measures with the FHTP to: secure a Fully Equipped Monitoring Mechanism designation (FEMM); and remain off the EU’s list with respect to OECD initiatives and exchange of information,” the government continued. 

The Bahamas has complained about how it has, in its view, been unfairly treated. 

“In September of last year [2023], The Bahamas addressed its concerns to the United Nations regarding the view and inequitable treatment of The Bahamas by the OECD and EU. The Bahamas will not remain silent on issues of grave importance that affect the reputation of the country and livelihood of its people,” it said.

The EU has changed its stance on The Bahamas before. In 2020, it removed the country off this "grey list," but later reinstated it.