Grand Bahama Chamber of Commerce: To Build, To Promote, To Serve!

Stay Connected With The GB Chamber

The Chamber holds general meetings to discuss relevant issues pertaining to commerce. Our aim is to seek solutions and render assistance according to each respective field of trade. Feel free to contact us and don’t forget to follow us on facebook to stay updated with latest chamber events and news.

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 is 7.5%. 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.

Recent Posts

1803, 2016

Bahamas Entrepreneurial venture fund Workshop

March 18th, 2016|Comments Off on Bahamas Entrepreneurial venture fund Workshop

2602, 2016

Hawksbill Creek Agreement Review Committee chairman addresses concerns with business community

February 26th, 2016|Comments Off on Hawksbill Creek Agreement Review Committee chairman addresses concerns with business community

Chairman of the Hawksbill Creek Agreement Review Committee (HCARC) Dr Marcus Bethel suggested the government would make a determination on the Hawksbill Creek Agreement’s expiring tax concessions within the next three months.

Dr Bethel made the […]

1002, 2016

3 Rules About Cash Flow That First-Time Business Owners Need to Know

February 10th, 2016|Comments Off on 3 Rules About Cash Flow That First-Time Business Owners Need to Know

Many first-time business owners think about cash flow only when their cash reserves are low. Small business owners, however, know that, for them, “cash is king.”

Related: The 5 Worst Cash-Flow Mistakes Small-Business Owners Make 

For many businesses, […]

502, 2016

GBCC, GBSBB, RBC partner to host Sense and Cents of Business Planning Seminar 2016

February 5th, 2016|Comments Off on GBCC, GBSBB, RBC partner to host Sense and Cents of Business Planning Seminar 2016

The Grand Bahama Chamber of Commerce (GBCC) in conjunction with the Invest Grand Bahama Small Business Bureau (IGBSBB) and RBC Royal Bank will host a Sense and Cents of Business Planning Seminar on Thursday, February […]

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It is the best way of joining hands with other businessmen and attacking the problems in your area
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