Tax Compliance Certificate (TCC)

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…

VAT Free Shopping Fees

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…

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…