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Bahamas - Overview and introduction

Bahamas - Overview and introduction

Taxation of international executives

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City port terminal building sunset light, Bahamas

The Bahamas has no income, company, capital gains, wealth, succession, or gift taxes. The majority of the tax revenue in the Bahamas is derived from VAT, real property tax, import and excise duties, stamp duties, casino tax, and license fees. Value Added Tax came into effect on 1 January 2015

The official currency of the Bahamas is the Bahamian Dollar (BSD).

Herein, the host country/territory refers to the country/territory to which the employee is assigned. The home country/territory refers to the country/territory where the assignee lives when they are not on assignment.

All information contained in this document is summarized by KPMG Advisory Services Ltd., a Bahamian company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity, based on the National Insurance Act of 1974 and its subsequent amendments; the website of The National Insurance Board of the Commonwealth of The Bahamas; the Immigration Act of 1967 and its subsequent amendments; the website of the Department of Immigration of the Commonwealth of The Bahamas; the website of the Custom’s Department of the Commonwealth of The Bahamas; the Value Added Tax Act of 2014 and its subsequent amendments; the Data Protection (Privacy of Personal Information) Act of 2007; the website of The Investment Authority of the Commonwealth of The Bahamas.

© 2019 KPMG, the Bahamas partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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