ON GOING EDUCATION TO SUPPORT VAT COMPLIANCE

Authored by: Ministry of Finance Source: Ministry of Finance Date: January 2, 2015 PRESS RELEASE MINISTRY OF FINANCE ON GOING EDUCATION TO SUPPORT VAT COMPLIANCE PUSH AS REGISTRATION CONTINUES; PRICE CONTROL CHANGES WILL ACCOMMODATE THE REFORM With the January 1 introduction of the VAT, the Ministry of Finance stresses that sustained education of businesses and…

VAT Department Encourages Compliance

Authored by: VAT Department Source: Ministry of Finance Date: December 31, 2014 FOR IMMEDIATE RELEASE VAT  Department Encourages Compliance Effective January 1st, 2015 Value Added Tax (VAT) will take effect in The Bahamas. In an effort to encourage voluntary compliance and foster good working relationships with the business community and taxpaying public, the VAT Department…

Guide to Customs Duty Rate Reductions.

Authored by: Bahamas Customs Department Source: Bahamas Customs Department Date: December 30, 2014 Ministry of Finance Guide to Customs Duty Rate Reductions. Effective January 1st 2015, certain Customs excise and tariff rate reductions will take effect to coincide with the introduction of VAT. The following is a summary of the reductions that will take effect,…