An Overview of Our Bahamian Tax Regime

During the third quarter of 2020, I had the privilege of working alongside some of the brightest minds in The Bahamas. We made up the “Support Team” that assisted the Economic Recovery Committee (the “ERC”) with the production of its Executive Summary Report (the “Summary Report”). The ERC’s Summary Report was presented to the then Prime Minister, and Minister of Finance of The Commonwealth of The Bahamas, the Hon. Hubert A. Minnis, and his Cabinet for review in October 2020.

The Summary Report provided recommendations aimed towards a speedy recovery resulting the economic shock experienced due to the COVID-19 global pandemic.

Do you want to know more about The Bahamas’ Tax Regime? A summary overview is detailed in the PDF attachment.

To read the full ERC Summary Report, visit Economic Recovery Committee - Executive Summary Report 2020 - Office of the Prime Minister (opm.gov.bs)

2021 Value Added Tax (“VAT”) Rate Update - The Hon. Philip Davis, Prime Minister and Minister of Finance, on Wednesday, October 27, 2021, during his address to the House of Assembly, announced a decrease in the nominal rate of VAT from 12% to 10%.Economic Recovery Committee - Executive Summary Report 2020 - Office of the Prime Minister (opm.gov.bs)