July11th, 2016 (Nassau, Bahamas) – The public and business owners are reminded that businesses operating without a current business license are doing so illegally. Compliance officers from the Department of Inland Revenue (DIR) will be making checks in the coming weeks and offenders will be dealt with in accordance to the law. The deadline for…
June 26th, 2016 (Nassau, Bahamas) – Business owners and the general public are reminded that Value Added Tax (VAT) inclusive pricing should be fully adopted for the pricing of all items in The Bahamas and that only VAT registrants are permitted to charge VAT. It is illegal for non-registrants to charge VAT and offenders will…
June 14th, 2016 (Nassau, Bahamas) – Business Licence applicants are reminded to regularly check their email or online account for messages regarding the following: Acknowledgements on receipt of applications Case numbers for tracking applications (eg. REG123, BLU456) Request for additional information/requirements Notification of fees due and payment instructions Notification of Approved Business Licence for printing…
June 6th, 2016 (Nassau, Bahamas) – The Department of Inland Revenue wishes to advise members of the public, specifically business owners, that a Tax Compliance Certificate (TCC) is necessary when doing business with the government and has been in effect since July 1st, 2015. The Financial Administration and Audit (Amendment) Act 2015 part IIB lays…
April 27th, 2016 (Nassau, Bahamas) – The Department of Inland Revenue is pleased to advise that effective May 1st, merchants who participate in the VAT Free Shopping Scheme will have the following payment options for settling their Global Blue service fees: 1. E-payment: Via the Online Tax Administration System (OTAS) participants will be able to…
