background image

Bahamas Budget Communication 2017/18 Presented — Orbitax Tax News & Alerts

On 31 May 2017, the Bahamas Deputy Prime Minister and Minister of Finance, K. Peter Turnquest, presented the 2017/18 Budget Communication to parliament. The tax-related measures of the budget are mainly limited to a reduction in the Business License tax rate from 1.5% to 1.25% of turnover, tax relief to consumers and businesses through customs and excise duty rate reductions for various goods, and measures to enhance tax administration and compliance, including amendments to the Customs Management Act to accommodate a paperless customs process.

Click the following link for the Budget webpage.