B.V.I, Bahamas, OtherCaribbean Jurisdictionsand OECD Minimum Global Tax

Commonwealth Caribbean jurisdictions that have agreed to the global minimum tax include Anguilla, Antigua and Barbuda, the Bahamas, Barbados, Belize, Bermuda, the British Virgin Islands, Dominica, Grenada, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago, and Turks and Caicos.

As of 1 January 2024, a 0.25 percent levy will be imposed on revenue attributable to operations outside the jurisdiction, starting at BSD2,500 on the first BSD1 million and rising to a maximum of BSD100,000. 1.00 Bahamian dollar =  $1.00 U.S. Dollar.

The policy is driven by meeting commitments to the OECD and EU on preferential treatment for foreign entities.

Further developments are planned in the form of a corporate income tax, on which a first phase consultation began in May 2023. The final policy must also consider the OECD's Pillar Two minimum 15 percent tax on large multinational enterprises.

New developments are expected in 2024.