[xml][/xml]
The Bahamas Weekly Facebook The Bahamas Weekly Twitter
VAT Bahamas Last Updated: Feb 13, 2017 - 1:45:37 AM


The Department of Inland Revenue responds to Tribune Business Article on Tax Compliance Certificates
By Department of Inland Revenue
Jun 7, 2016 - 1:35:37 PM

Email this article
 Mobile friendly page
Nassau, Bahamas – The Department of Inland Revenue wishes to advise members of the public, specifically business owners, that a Tax Compliance Certificate (TCC) is necessary when doing business with the government and has been in effect since July 1st, 2015.

The Financial Administration and Audit (Amendment) Act 2015 part IIB lays out the legal basis for provision of the TCC.

Businesses should note that the TCC will be issued to taxpayers who are compliant with their tax obligations to the government.

The certificate is required for individuals who:

1. Wish to do business with the government or a public body,

2. Wish to collect monies for services rendered to the government or a public body

3. Wish to register ownership or change ownership of a taxable good;

4. Receive concessions under the provisions of legislation (i.e. churches, schools, etc).

The certificate will be valid for a period of one month where the value of the contract is $10,000 or more or six months where the value of the contract is less than $10,000.00

Before the department can issue a TCC, several agencies are contacted to ensure that the taxpayer is up to date with all its obligations to the government:

  • Customs
  • Immigration
  • Business License
  • Value Added Tax (VAT)
  • Road Traffic
  • Real Property Tax
  • National Insurance

All applications must be made online by visiting vat.revenue.gov.bs

For further information, visit the Department of Inland Revenue’s new website at www.inlandrevenue.finance.gov.bs/, email taxinquiries@bahamas.gov.bs or call (242) 461-8050.

Bookmark and Share




© Copyright 2016 by thebahamasweekly.com

Top of Page

Receive our Top Stories



Preview | Powered by CommandBlast

VAT Bahamas
Latest Headlines
Free VAT Filing Workshop offered from June 13- June 15 in Grand Bahama
D.I.R Announces Operation Enhancement Measures
VAT Filing & Payment Deadline Changes
VAT: Request for Filing Extensions after Hurricane Matthew
VAT Taken Off Some Educational Fees