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Business License Goes Online
July 29, 2015
Business License Goes Online
Say goodbye to standing in lines and completing Business Licence applications manually. Effective 4th August, 2015 the Business Licence process will be computerized on the Online Tax Administration System (OTAS)...
July 27, 2015
Department of Inland Revenue Introduces Business License Online Registration
The Department of Inland Revenue advises the public of the introduction of its new online application for Business Licence scheduled to go live on August 4th, 2015. The Online Tax Administration System (OTAS) will provide businesses with a simple, user-friendly, online application...
July 23, 2015
Quarterly Taxpayers Filing & Payment Deadline on July 28
The Value Added Tax Department reminds you that your filing of a return and payment on the appropriate Tax Identification Number (TIN) is due by July 28, 2015. Kindly submit your return and payment where applicable before the due date to avoid penalties...
July 20, 2015
Deadline fast approaching for the second VAT filing period for quarterly filers
The Value Added Tax (VAT) Department reminds the public that the deadline is fast approaching for the second VAT filing period for quarterly filers. The deadline for the quarterly filing period for small and medium businesses is July 28th...
July 14, 2015
New Tax Free Shopping Scheme takes effect for Tourist in August
The Value Added Tax (VAT) Department has announced that the VAT Free Shopping Scheme will take effect on August 15th , 2015. As a result, the VAT and Customs Departments are partnering with Global Blue, an international operator of tax refund systems...
July 07, 2015
Department of Inland Revenue moving to Carmicahel Road
The Ministry of Finance advises the public of the merger and new location of the Business Licence, Real Property, Excise Tax, First Home Owner Exemption and Value Added Tax Departments within the Department of Inland Revenue effective Monday, July 13th, 2015...
Talking Points on Revenue Reform
June 29, 2015
Talking Points on Revenue Reform
The public's attention is being drawn to several important revenue reforms approved by Parliament during the 2015/2016 Budget Debater. These mainly affect the revenue collections that fall under Ministry of Finance agencies and include Customs Duties...
544 million in VAT projected for 2015/2016
May 31, 2015
544 million in VAT projected for 2015/2016
The government expects to earn a whopping $544.2 million in value-added tax (VAT) in fiscal year 2015/2016 - over $200 million more than the initial estimate of $300 million for a full fiscal year and nearly quadruple the estimated VAT revenue for 2014/2015.
Top 15 topics for 2015
January 06, 2015
Top 15 topics for 2015
The year 2015 is now in full swing and as the melody of the Auld Lang Syne fades for the time being, several Bahamians would have wrapped up their celebrations and are settling down into a year with expectations and aspirations. As we turn the page and focus on all that 2015 has in store for our country, there are quite a number of topics that we expect will receive attention and make news headlin...
Central Revenue Agency elements are in place
December 23, 2014
Central Revenue Agency elements are in place
The government has disclosed some of the details surrounding what Minister of State for Finance Michael Halkitis called the Central Revenue Agency. It appears to be a new branch of the public service that will focus on collection of government revenue.
And if it seems like the government stopped focusing on establishing a Central Revenue Agency (CRA), that's because it did. Halkitis told the House...
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