Business Licence concessions will be offered to all businesses located within the SERZ for a period of one year beginning January 1, 2020 on the condition that by August 31, 2020 the business has increased its staff compliment to 50 per cent of the number of persons that were employed by the business on August 31, 2019.
Please note: Concessions will not apply to branches outside of the SERZ. Business Licence tax for branches within the SERZ will be deducted from the total business tax due.
All new business applicants with the exception of businesses that are deemed volatile are eligible to receive an automatic Provisional Licence. Please note that the following documents are still mandatory and must be uploaded at the time of application:
- Applicant’s Passport
- Applicant’s NIB Card
- NIB Business Registration
Business Licence Renewals:
- In March, 2020 there will be no charges for Business Licence renewals within the SERZ.
- Business owners are still required to file annual returns and submit an accounting report for returns in excess of $100, 000
- Businesses with subsidiaries on Grand Bahama, Abaco and The Abaco Cays annual returns would be prorated
- The late charge of $100 plus interest will still be applicable for Business Licences filed after the January 31 deadline.