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Bahamas to Enable the Payment of Taxes Using Digital Assets — Orbitax Tax News & Alerts

The Prime Minister of the Bahamas recently published a policy white paper on the Future of Digital Assets in the Bahamas, which sets out a vision and a framework to guide Bahamian digital asset policy between now and 2026. With respect to taxes, the paper states that the Government will endeavor to ensure that digital assets are not used for the evasion of taxes or sanctions and will seek to ensure compliance with all applicable tax information exchange agreements (TIEA) and domestic laws and agreed OECD standards. It is also provided that during 2022, the Government will start enabling Bahamians' access to digital assets using BSD and will enable the payment of taxes using digital assets.