- The Bahamian Department of Inland Revenue issued an advance VAT ruling on professional services.
- The ruling clarifies the VAT treatment on the provision of professional services.
- The ruling states that supplying accounting or similar services is zero-rated when supplied from within the country to a recipient outside.
- The standard VAT rate applies to recipients using or obtaining the benefit of the services within the country.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
