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

1401, 2016

GB Chamber Installation 2016

January 14th, 2016|Comments Off on GB Chamber Installation 2016

Mr. Kevin D. Seymour, our Chamber’s returning president and his newly elected Board of Directors will be duly installed during the evening. This year, we have opted for an informal evening setting of music, dancing and wholesome entertainment ….No speeches!! […]

501, 2016

Seymour says govt must address 10 economic challenges in 2016

January 5th, 2016|Comments Off on Seymour says govt must address 10 economic challenges in 2016

Grand Bahama’s Chamber of Commerce president, Kevin Seymour, lists 10 issues that he insists must be addressed by the government in 2016 as they continue to present economic challenges to this developing nation.

Seymour, returning president for the Grand Bahama Chamber of Commerce (GBCC) shared with The Freeport News his views on the implementation of Value Added Taxes (VAT) last year and what needs to be dealt with in order to reset the country’s growth trajectory. […]

912, 2015

The Grand Bahama Chamber of Commerce member Dolly Madison hosts second ‘Buy Local’ Campaign

December 9th, 2015|Comments Off on The Grand Bahama Chamber of Commerce member Dolly Madison hosts second ‘Buy Local’ Campaign

Memories Grand Bahama Beach and Casino partnered with Dolly Madison in their second ‘ Local’ campaign, and on Monday, December 7 four winners were presented with certificates entitling them to a one night all-inclusive stay at the resort.

James Rolle, General Manager at Dolly Madison confirmed that when shoppers spent $50 or more at the store between November 1 and November 26, they became eligible to enter to win a deluxe all-inclusive one night stay for two adults plus up to two children (ages 12 and under) at Memories Grand Bahama Beach and Casino Resort. […]

212, 2015

Signing a Cooperative Agreement with Hubei China

December 2nd, 2015|Comments Off on Signing a Cooperative Agreement with Hubei China

ICYMI: President Kevin D. Seymour signing a Cooperative Agreement with Hubei China on behalf of The
Grand Bahama Chamber of Commerce at Monday’s Trade Mission.

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