December 16th, 2015 (Nassau, Bahamas) – The Department of Inland Revenue wishes to remind taxpayers about the difference between Value Added Tax (VAT) Certificates and Tax Identification Number (TIN) Certificates.
A VAT Certificate allows registrants to charge and collect VAT as well as receive refunds where the amount of input VAT has exceeded the amount of output VAT. VAT Certificates also bears the Form Number 18 on the upper right hand corner and has the VAT logo watermark embedded in the center of the form.
A TIN Certificate does not allow a registrant to charge and collect VAT. Any person or business that wishes to carry out business with the government requires a TIN Certificate. TIN Certificates bears the Form Number 18 A on the upper right hand corner along with the coat of arms as a watermark in the center of the form.
By paying attention to these details, you can help the Department of Inland Revenue prevent fraud.
For more information, visit our website http://inlandrevenue.finance.gov.bs,
email: email@example.com or
Contact the Department of Inland Revenue toll free at (242) 225-7280 or (242) 461-8050