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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]
Business license. Business licenses are permits issued by government agencies that allow individuals or companies to conduct business within the government's geographical jurisdiction. It is the authorization to start a business issued by the local government. [1] A single jurisdiction often requires multiple licenses that are issued by ...
Net income. US$388 million (2021) [3] Number of employees. c. 300 (2022) [4] FTX Trading Ltd., commonly known as FTX (short for "Futures Exchange"), [5] is a bankrupt company that formerly operated a fraud-ridden cryptocurrency exchange and crypto hedge fund. [6] [7] The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang.
The economy of the Bahamas is dependent upon tourism and offshore banking. The Bahamas is the richest country in the West Indies and is ranked 14th in North America for nominal GDP. [8] It is a stable, developing nation in the Lucayan Archipelago, with a population of 391,232 (2016). Steady growth in tourism receipts and a boom in construction ...
v. t. e. The Cabinet constitutes the executive branch and has general direction and control of the Government of The Bahamas. It is necessary for the Cabinet to comprise at least nine Ministers inclusive of the Prime Minister and Attorney General. All Ministers are Members of Parliament of either the House of Assembly or the Senate.
The new legislation eliminated the "Bahamas Belonger" status, and those who had derived that status by marriage. The program required a dual application to the Ministry of National Security and the Immigration Board, payment of a $5,000 fee, and evidence of investment in a business or real estate.
The Bahamas Institute of Chartered Accountants (BICA) is a professional body that regulates the accountancy industry in the Bahamas. In theory anyone approved by the relevant government ministry can act as an independent auditor, but in practice, all auditors are members of BICA.
The prime minister of The Bahamas is the head of government of The Bahamas. The prime minister is formally appointed into office by the Governor-General of The Bahamas , who represents Charles III , the King of The Bahamas (the Bahamian head of state ).