Ministry of Finance extends reporting deadline for economic substance

Jan 6, 2021 | Press Releases

Coat_of_arms_of_the_BahamasThe Ministry of Finance has issued a press release stating that entities operating under the Companies Act, the International Business Companies Act, the Partnership Act, the Partnership Limited Liability Act and the Exempted Limited Partnership Act are required to submit economic substance reports by no later than 31 January 2021 with respect to the year 2019. Reports submitted by that date will not incur a penalty, as per the attached Public Notice.

Please click to download the Reporting Obligations under the Commercial Entities (Substance Requirements) Act, 2018

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