Business Licence Certification Requirement

February 1st, 2016 (Nassau, Bahamas) – The public is reminded that the deadline for the submission of all 2016 business licence renewal applications was January 31st, 2016. Renewal applications should have been submitted by this time to avoid the late application penalty of $100. Businesses should settle licence fees by March 31, 2016 to avoid…

Commercially Scheduled Air Services for VAT Purposes and VAT on Fuel

January 4th, 2016 (Nassau, Bahamas) – The Ministry of Finance and Department of Inland Revenue wishes to advise the public that effective January 1st, 2016, zero-rated treatment is only to apply to regularly scheduled passenger, freight and courier services. The treatment also extends to the equivalent of C135 operators who can provide evidence to the…

No Removal of Value Added Tax (VAT) from Heathcare Services

December 24th, 2015 (Nassau, Bahamas) – In response to a statement appearing in yesterday’s newspaper, the Ministry of Finance advises the public that no proposals have been put forward by the Ministry of Finance to remove the VAT from health care services. The Ministry is aware that various stakeholders including Bahamas Insurance Association have questioned…

Department of Inland Revenue Business License Payment Methods

December 21st, 2015 (Nassau, Bahamas) -The Department of Inland Revenue reminds the public that the renewal and payment for business licenses can only be done online. All business licenses expire on December 31st, 2015 and applications must be renewed on or before January 31st, 2016 to avoid a late fee. Payment for renewing your business…