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Taxation. Taxation in the Bahamas is collected by the Government of the Bahamas. The Bahamas are considered a tax haven given the lack of income tax, capital gains tax, inheritance tax or company tax. [1] Government tax revenue is instead derived from consumption, property and import taxes as well as licence fees. [2]
Elections. Local government elections take place once every three years in the Bahamas [22] with the most recent elections taking place on 27 January 2022. [23] The 2020 elections were postponed due to COVID-19 until Emergency Power Orders were lifted. [24] The voting system used in local government elections is the first-past-the-post system.
The Bahamas has no income tax, corporate tax, capital gains tax, or wealth tax. Payroll taxes fund social insurance benefits and amount to 3.9% paid by the employee and 5.9% paid by the employer. In 2010, overall tax revenue was 17.2% of GDP. A value-added tax (VAT) of 7.5% has been levied 1 January 2015. It then increased from 7.5% to 12% ...
Tax enforcement and compliance play a crucial role in maintaining the integrity and effectiveness of the British Virgin Islands' tax regime. The territory has implemented robust mechanisms and processes to monitor and enforce tax laws, investigate non-compliance, and impose penalties or sanctions on offenders.
The law of The Bahamas makes provisions for the appointment of 12 Justices to the Bench of the Supreme Court, inclusive of the Chief Justice, and for five Justices of the Court of Appeal, inclusive of the President. The Chief Justice, as Head of the Judiciary, is an ex officio member of the Court of Appeal, but only sits at the invitation of ...
Glover-Rolle is a certified Labour Advocate and Human Resources Specialist. She holds a degree in Hospitality Management with certifications in Labour Relations, Employment Law and Management. She is also a Justice of the Peace and a Labour & Immigration Consultant. Glover-Rolle was ratified as the PLP candidate for the Golden Gates ...
t. e. The Bahamas has a strong bilateral relationship with the United Kingdom, represented by a High Commissioner in London. The Bahamas also associates closely with other nations of the Caribbean Community (CARICOM). The Bahamas became a member of the Organization of American States (OAS) in 1956 and the United Nations (UN) in 1973.
The Bahamas and the United States established diplomatic relations in 1973. [1] Historically, they have had close economic and commercial relations. The countries share ethnic and cultural ties, especially in education, and the Bahamas is home to approximately 30,000 American residents.