Ministry of Finance: No Reversal on the VAT Treatment of Insurance

The Ministry of Finance takes strong exception to the report in today’s newspaper, which suggests that officials in the ministry and the VAT Department have reneged on the understanding of insurance policies renewed before July1st, 2015 and how they are to be treated under VAT. Contrary to views attributed to representatives of the insurance industry,…

Department of Inland Revenue Launches New Website

November 8th, 2015 (Nassau, Bahamas) – The Department of Inland Revenue (DIR) wishes to advise the public that it now has a new website. It can be accessed in two ways: http://inlandrevenue.finance.gov.bs http://www.inlandrevenue.finance.gov.bs The website is more user-friendly and gives access to information on Value Added Tax (VAT), Business License, Real Property Tax and First…

Department of Inland Revenue Staff To Travel to Long Island

November 5th, 2015 (Nassau, Bahamas) – The Department of Inland Revenue (DIR) will be in Long Island next week to allow business owners to have the opportunity to meet with them and discuss the new Business Licence online system which is part of the existing Online Tax Administration System (OTAS). The team will be in…