Bahamas selects Convey and EY to implement FATCA strategy

Sovos

March 5, 2015

This blog was last updated on June 27, 2021

The Bahamas Finance Ministry has selected Convey Compliance (now a Sovos Compliance Company) and EY (Ernst & Young) to work in conjunction to put the country’s solution for the Foreign Account Tax Compliance Act (FATCA) in place. The two companies will work with the Finance Ministry to create a secure process for submitting tax information for U.S. citizens. Additionally, Convey and EY will assist with establishing the Bahamas Competent Authority. Bahamas has demonstrated its overall dedication to ending cross-border tax evasion by pledging to facilitate the automatic exchange of tax information (AEOI) under the Organization for Economic Cooperation and Development’s (OECD) Common Reporting Standard (CRS). More Information: Visit Convey.com to read the full story and to discover more information on Foreign Account Tax Compliance Act (FATCA) compliance. Related: Ministry of Finance enlists EY and Convey to develop and deploy FATCA Model (bahamaislandsinfo.com)

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Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.

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