The Department of Inland Revenue wishes to advise all taxpayers that effective January 1st, 2017 the deadline for VAT Filing and payment will change. Registrants must now file their VAT returns and remit the VAT due within twenty-one (21) days after the end of each tax period in accordance with the Value Added Tax (Amendment)…
August 21st, 2016 (Nassau, Bahamas) – The Department of Inland Revenue (DIR) advises education officials and the general public that Value Added Tax (VAT) is no longer applicable to certain fees related to tuition. The removal of VAT from educational ancilliary fees came into effect on July 1st, 2016 following the 2016/2017 Budget Communication. Ancillary…
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…
