- The bill amends The Bahamas’ Value Added Tax Act and is set to begin on July 1, 2026.
- It repeals section 10(3) of the principal Act.
- It makes government entities responsible for paying for contracted goods or services the VAT withholding agents, requiring them to withhold and remit the full VAT.
- It allows registered non-profit organisations to apply for VAT refunds in certain cases where input VAT was incurred by the organisation, not a donor, and relates to taxable supplies, core activities, or premises use.
- It also changes the VAT exempt supplies schedule, including updated treatment for transferring goods between vessels/transport modes outside The Bahamas and related terminal or berthing services.
Source: laws.bahamas.gov.bs
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.
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