International study reveals European economies piling on taxes, Eastern Europe, BRIC, Asia-Pacific becoming more tax-attractive. Nassau, Bahamas -- The Bahamas was warned today to hold the line on indirect personal taxation as a just-released study of 26 countries revealed what its authors called "the yawning gap" between the ability of high- and low-tax economies to attract and retain talent and investment.

The study, conducted by UHY, the international accounting and consultancy network with affiliates in 81 countries, says the broadening gap has been driven by struggling European economies raising taxes to plug gaps in budget deficits while emerging economies like BRIC nations (Brazil, Russia India, China) are attracting more professionals -- and investment. 

UHY warns higher taxation is making European economies even less competitive relative to rival low tax economies. John Bain, Managing Partner of UHY Bain & Associates in The Bahamas office, warned that while The Bahamas was not included in the year-long, 26-nation study -- Bain & Associates was just named to the global network last month -- the country would do well to heed the results that clearly showed populations and investment followed the path of attractive personal taxation.

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