The Department of Inland Revenue wishes to remind all taxpayers that the deadline for VAT filing and payment has now changed.

Registrants must now file their VAT returns and remit any VAT due within twenty-one (21) days after the end of each tax period in accordance with the Value Added Tax (Amendment) Act, 2016, Section 47, Subsection (1).

Please ensure that all VAT returns are filed and paid by the new deadline of the 21st or the next business day if the 21st falls on a weekend or a public holiday. The monthly and quarterly filings and payments for the tax period ended December 2016 is due on the 23rd of January 2017.

Failure to file and make payment on or before the deadline will result in fines and penalties being assessed.

For additional information please visit the Department of Inland Revenue website at http://inlandrevenue.finance.gov.bs or email us at taxinquiries@bahamas.gov.bs