The Bahamas has reportedly approved the Commercial Entities (Substance Requirements) (Amendment) Bill 2023, which will come into force on a date to be appointed by the Minister by notice to be published in the Gazette. The Bill seeks to bring the Commercial Entities (Substance Requirements) Act into line with the amended standard on substantial Economic Presence requirements. In particular, the principal Act is amended to provide for further exchange of information to reportable jurisdictions and to provide for more efficient measures for compliance with the Act. The need to strengthen the requirements follows the listing of the Bahamas as non-cooperative...