The guidance notes reflect the Comptroller’s position on the administration and enforcement of the law relating to insurance.

FOR IMMEDIATE RELEASE

The Value Added Tax (VAT) Department of the Ministry of Finance has released the VAT Guidance Note as it relates to the Insurance Industry. The Public is advised that the Insurance Guidance is to be read in conjunction with the VAT Act 2014 Act and Regulations 2014.

The guidance notes reflect the Comptroller’s position on the administration and enforcement of the law relating to insurance and were prepared after intensive consultation and workshops with the insurance sector.

The public is further advised that they can view the Insurance Industry guidance notes as well as other sector guides on the government’s website at www.bahamas.gov.bs/VAT. 

For more information contact the VAT Department at vat@bahamas.gov.bs or call VAT Taxpayer Services at (242)-225-7280

April 20^th, 2015