Bahama Islands

Basic taxes (briefly)

Personal tax No
Corporate tax (in detail) Companies in the Bahamas are not subject to direct taxes.
Capital gains tax. Details There is no capital gains tax in Bahamas.
VAT. Details VAT is paid at the rate of 12%.
Other taxes Social contributions, Property taxes
Government fee
Stamp duty Collected in relation to rentals of real estate in Bermuda from the amount of the annual rent

International tax agreement

Tax treaties entered
   
Tax Exchange Information Agreement (TEIA) Argentina, Aruba, Australia, Belgium, Canada, China, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Indonesia, Ireland, Japan, Korea, Malta, Mexico, Monaco, Netherlands, New Zealand, Norway, Poland, San Marino, South Africa, Spain, Sweden, United Kingdom, United States


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TAXATION

Personal Income Tax

There is no personal income tax in Bahamas.

Corporate Tax

Companies in the Bahamas are not subject to direct taxes.

Capital Gains Tax

There is no capital gains tax in Bahamas.

VAT

Bahamian IBCs are not subject to VAT.

Withholding Tax

There is no withholding tax in Bahamas.

Stamp Duty

Bahamian IBCs are not subject to stamp duty.

Government Fee

Bahamian IBC should pay annual fees on the 1st January of each year. The annual license fees payable by a Bahamas IBC are B$350 if its share capital is less than B$50,000. The annual license fee for Bahamas IBCs with share capital exceeding B$50,000 is B$1,000.

Other Taxes and Duties

Bahamian IBCs are exempt from taxation.

Double Tax Agreements

Bahamas has exchange of information relationships with 30 jurisdictions through 30 TIEAs:

  • 33 TIEAs: Argentina, Aruba, Australia, Belgium, Canada, China, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Indonesia, Ireland, Japan, Korea, Malta, Mexico, Monaco, Netherlands, New Zealand, Norway, Poland, San Marino, South Africa, Spain, Sweden, United Kingdom, United States

Foreign Exchange Control

IBCs are exempt from foreign exchange control.

ACCOUNTS

Accounting Records

A Bahamas IBC needs to maintain accounting records. These accounting records may be maintained in any currency and may be held anywhere in the world.

Financial Statements

A Bahamas IBC is required to prepare financial statements under IFRS. These need not be filed with the Registrar of Companies.
A Bahamas IBC is not required to have its accounts audited.

Annual Return

There is no requirement for a Bahamas IBC to submit an annual return.

Tax Returns

There is no requirement for a Bahamas IBC to submit an annual tax return.

    Taxes of Bahamas

    Min. rate for corporate tax No
    Capital gains tax No
    VAT 12%
    Withholding tax No
    Exchange control There are special rules for conducting foreign exchange transactions
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