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.

Oct 2015

Old Fashioned Ball “The Great Waltz” – 31/10/2015 at 7:00 am - 10:00 am

Nov 2015

Mary Star of the Sea Parish Annual Bazaar – 21/11/2015 at 12:00 pm - 11:30 pm

Dec 2015

Festival Noel 2015 – 04/12/2015 at 7:00 pm - 10:00 pm
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Recent Posts

1603, 2015

Missed last week’s VAT Return Filing Workshops?

March 16th, 2015|Comments Off

Missed last week’s VAT Return Filing Workshops? There are 2 more sessions happening this week!

 

603, 2015

President Kevin D. Seymour, Makes Speech At Business Outlook 2015

March 6th, 2015|Comments Off

“WE’VE BUILT IT, THEY CAME , SOME LEFT – HOW DO WE GET THEM TO RETURN?”
By now, most of you are aware that the Grand Bahama Chamber of Commerce’s theme for the year is “Continuation, Collaboration and Competition.” My presentation today will focus on the how continuation and collaborations is essential in order to re-ignite Grand Baham’s economy and make us more competitive. […]

603, 2015

Committee announced to review Hawksbill Creek Agreement

March 6th, 2015|Comments Off

FREEPORT, Grand Bahama — A six-member committee to review the Hawksbill Creek Agreement was announced by Prime Minister the Rt. Hon. Perry Christie on Thursday during a press conference at Grand Lucayan.

The committee is headed […]

303, 2015

Ministry of Finance, Customs and VAT Department Reviewing Administrative Controls for Bonded Fuel Sales in the Port Authority Area

March 3rd, 2015|Comments Off

The Ministry of Finance and VAT Department announced that new administrative procedures will be put in place to monitor bonded fuel supplies in the Freeport Area.  “We will be working with petroleum distributors to track fuel sales, so that the proper follow up can be done to verify that purchases are for business and not personal use,” a spokesperson said. […]

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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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