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

1708, 2017

New members join the GB Chamber!

August 17th, 2017|Comments Off on New members join the GB Chamber!

We are proud to announce the newest members of our Chamber:

Name: Fast Track Management Ltd.
Type of Business: Sports Management
Represented By: Ravanno Ferguson

Name: Microtech
Type of Business: Office Products
Represented By: Denis Knowles

Name: SolarUp Bahamas
Type of Business: Solar […]

908, 2017

GB Chamber board members meet with Cable Bahamas rep

August 9th, 2017|Comments Off on GB Chamber board members meet with Cable Bahamas rep

The Grand Bahama Chamber of Commerce cares about its members and the economy. Recently executives of the chamber made a courtesy call on Cable Bahamas executive Mrs. Edris Wilson-Elliott. Photo L-R: Mick Holding, GBCC president, […]

408, 2017

(VIDEO) DPM and Minister of Finance K. Peter Turnquest speaks to the GB business community at July luncheon

August 4th, 2017|Comments Off on (VIDEO) DPM and Minister of Finance K. Peter Turnquest speaks to the GB business community at July luncheon

Deputy Prime Minister and Minister of Finance K. Peter Turnquest speaks at the Grand Bahama Chamber of Commerce luncheon on Friday, July 28, 2017, updating the members and guests about the key financial issues affecting the businesses […]

2007, 2017

GB Chamber members team up with local government to clean up areas in East End, GB

July 20th, 2017|Comments Off on GB Chamber members team up with local government to clean up areas in East End, GB

FREEPORT, THE BAHAMAS, (JULY 20, 2917) — The Grand Bahama Chamber of Commerce worked along with the business community, local government, and a contractor from the area to clean up three areas that had been […]

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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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