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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]
www .bahamas .gov .bs /finance. The Ministry of Finance is a government ministry of the Bahamas responsible for the care and management of public finances. The development and management of the annual government budget is a major aspect of the ministry's function. [1] Since 1984, Prime Minister of the Bahamas has mostly held the portfolio of ...
Bahamas Customs Service. Bahamas Customs & Excise Department is the agency of the Bahamian government responsible for collecting revenue and taxes. It was established on March 21, 1914, by an act of the Bahamian Legislature known as an Act to provide for the establishment of a Customs Department. About 55% to 60% of revenue collected in the ...
The Ministry of Public Works, formerly Ministry of Works & Urban Development and Ministry of Public Works and Transport, is a government agency of the Commonwealth of the Bahamas. Its head office is in Nassau . As of May 2017, The Hon. Desmond Bannister, MP serves as the Minister, Iram Lewis, M.P. serves as Parliamentary Secretary, and ...
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% ...
The governor-general of The Bahamas is the representative of the Bahamian monarch, currently King Charles III, in the Commonwealth of The Bahamas. The governor-general is appointed by the monarch on the recommendation of the prime minister of The Bahamas. The functions of the governor-general include appointing ministers, judges, and ...
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