In recent developments, the Bahamas Department of Inland Revenue is now prepared to collect the new VAT (Value-Added Tax) payments and submissions from all foreign yacht charters conducted in The Bahamas. This follows the introduction of a new tax rate of 10% VAT on 1 July 2022, requiring all foreign-flagged charter yachts to pay this rate on the vaIue of the charter contract.
Source: oceanindependence.com
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