• The main things remain the main things

    The Grand Bahama Chamber of Commerce (GBCC) submitted its latest compilation of survey data to the Prime Minister’s office and the Grand Bahama Port Authority’s Chairman as it continues to advocate for the business community in Grand Bahama and its economic survival

  • WORKPLACE GUIDELINES DURING COVID-19

    Health and Safety at Work Act of 2002 - “It shall be the duty of every employer to ensure, so far as is reasonably practical, the health, safety and welfare at work of all his employees.” This document is to provide recommendations to employers regarding best practices for maintaining the physical and mental health of their employees during the COVID-19 pandemic.

  • Rules for Importation of Duty Free Supplies Under Declaration of Exigency Order

    Rules for Importation of Duty Free Supplies Under Declaration of Exigency Order

Recent Posts

1103, 2024

Celebration Key’s Shore Excursions!!

March 11th, 2024|Comments Off on Celebration Key’s Shore Excursions!!

Want to be part of our new exclusive destination?! 🏖 Calling all local shore excursion businesses! Join us for a townhall at the Pelican Bay Hotel on Thursday March 14th from 5:30-7:30pm to learn more [...]

803, 2024

March 8th, 2024|Comments Off on

On Thursday, March 8th , the Bahamas Development Bank (BDB) paid a courtesy call on the Grand Bahama Chamber of Commerce (GBCC) to discuss opportunities for MSME'S on Grand Bahama Island. It was an informative [...]

803, 2024

Happy International Women’s Day!

March 8th, 2024|Comments Off on Happy International Women’s Day!

Today, we recognize and celebrate the remarkable team of women at the Grand Bahama Chamber of Commerce, who are breaking barriers, challenging norms, and making Grand Bahama a better place. Your resilience is truly inspiring. [...]

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Confused about V.A.T?

VAT-Handshake

VAT, or Value Added Tax, is a consumption based tax charged on most goods or services locally bought or rendered.
VAT is a stable tax reform that must be supplied in order to create and maintain an ample revenue stream. The increase of debt is an issue that must be detained, along with the realization that past customs activities, along with the decrease in custom duties, are inadequate forms of governmental income. The staged collection process of VAT will allow a safe and effective form of tax passage and will provide sufficient funding to future government activities as well economic and population expansions.
The standard rate of VAT for most goods and services as of July 1st 2018 is 12%. Some goods and services are zero-rated, i.e. a 0% rate of VAT applies to them, and some are exempt. A list of exempt supplies can be found in the VAT Act.
All consumers pay VAT. The VAT collected by the businesses will be paid to the government.

For FAQs related to Business, click here.
For FAQs related to Consumers, click here.
For more information and the latest updates on Value Added Tax be sure to visit the Official VAT Bahamas website.