DEPUTY PRIME MINISTER AND MINISTER OF FINANCE PETER TURNQUEST
NASSAU, Bahamas — The Bahamas has not conceded its sovereignty by complying with the transparency standards and international best practices required of this country by the European Union (EU) and the Organization for Economic Cooperation and Development (OECD). But it has complied because another round of blacklisting by those economic watchdogs could lead to a crippling of the financial services sector, Deputy Prime Minister and Minister of Finance Peter Turnquest said yesterday, the Nassau Guardian reported December 6.
Turnquest, who issued those sentiments on the floor of the House of Assembly yesterday, sought to assure the Bahamian people that The Bahamas still maintains its right to establish domestic law. He lamented, though, that as the EU revises its blacklist this month, government had to work assiduously to keep this country off the list by moving a compendium of bills that will change the financial services sector forever, quickly through the legislative process.
Those financial watchdogs gave this country a deadline of December 31 to comply with its rules on tax matters to avoid being placed on a blacklist. https://thenassauguardian.com/2018/12/06/we-remain-sovereign/
