Czech Republic signs tax information exchange deal with Bahamas

The Czech Republic has signed a tax exchange agreement with the Bahamas, the Ministry of Finance announced on Tuesday. The agreement had already been hammered out by the start of 2012 but has waited until now to be signed. The information exchange with the Caribbean tax haven will take effect when it is ratified by parliament and signed by the Czech head of state. Prague has already sealed 13 such tax exchange agreements with other states. Finance Minister Andrej Babiš described such agreements as an effective tool for uncovering tax evasion by Czechs. One of Bahamas most notorious Czech residents is the so-called pirate of Prague, Viktor Kožený.