Education on VAT continues through the country…

The Value Added Tax (VAT) Implementation Team along with a team from the Business License Department will be hosting a series of registration clinics in the Family Islands beginning on October 29th.

The first clinic is scheduled for Marsh Harbour, Abaco next Tuesday and Wednesday.

It will be held at the Bahamas Government Complex beginning at 9:00 a.m. and ending at 4:00 p.m.

There is also a registration clinic scheduled for Bimini on October 31st.

The clinic will be held at the courthouse from 11:00 a.m.-3:00p.m.

A schedule of upcoming Family Island clinics will be published on Monday, October 29th.

Financial Secretary and VAT Comptroller John Rolle said it is important for businesses in the Family Islands to be registered.

“It is crucial that we capture all potential residents far and wide so we have to reach all businesses from the north with Bimini to the south in Inagua,” he said.

Online registration was launched back on October 13th. It is expected that all businesses meeting the taxable sales of $100,000 or higher within the next 12 months must complete registration by November 30th.

The online system allows for businesses to register for VAT and in the future, to file for VAT.

Businesses under the taxable sales of $100,000 limit can still register voluntarily.

VAT is expected to come on stream on January 1st, 2015.

For more information contact the VAT Department at vatcustomerservice@bahamas.gov.bs or call the Help Desk Hotline 225-7080.