DIR Welcomes Suriname Delegates

  February 8th, 2016 (Nassau, Bahamas) – Officials from the Department of Inland Revenue welcomed four delegates from Suriname, who are in The Bahamas this week, on a fact finding mission on The Bahamas’ implementation of Value Added Tax (VAT). The delegates, Marita Wijnerman, Jan Bolman, Remie Belliot and Joan Vuldhuizen, arrived on Sunday and…

MOF and The Bahamas Chamber of Commerce meet to discuss the new requirements for Business Licence

February 3rd, 2016 (Nassau, Bahamas) – Executives from The Bahamas Chamber of Commerce and Employer’s Confederation (BCCEC) met with officials of the Ministry of Finance on Friday, January 28th, 2016 to discuss the new requirements for business licence. The BCCEC was concerned that the new requirements placed an unnecessary financial and administrative burden on small…

Business Licence Certification Requirement

February 1st, 2016 (Nassau, Bahamas) – The public is reminded that the deadline for the submission of all 2016 business licence renewal applications was January 31st, 2016. Renewal applications should have been submitted by this time to avoid the late application penalty of $100. Businesses should settle licence fees by March 31, 2016 to avoid…

Commercially Scheduled Air Services for VAT Purposes and VAT on Fuel

January 4th, 2016 (Nassau, Bahamas) – The Ministry of Finance and Department of Inland Revenue wishes to advise the public that effective January 1st, 2016, zero-rated treatment is only to apply to regularly scheduled passenger, freight and courier services. The treatment also extends to the equivalent of C135 operators who can provide evidence to the…