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

2703, 2017

GB Chamber holds March Business Luncheon, welcomes new members

March 27th, 2017|Comments Off on GB Chamber holds March Business Luncheon, welcomes new members

Grand Bahama Chamber of Commerce President Mick Holding presents Betty Bethel from the Ministry of Tourism with a commemorative plaque in honour of her presentation on the current state of tourism in Grand Bahama at […]

2403, 2017

Tourism Director charges Grand Bahama residents to make tourism their business

March 24th, 2017|Comments Off on Tourism Director charges Grand Bahama residents to make tourism their business

In an address to the Grand Bahama Chamber of Commerce on Wednesday, Ministry of Tourism Director Betty Bethel asserted that Grand Bahama’s future ultimately rests in the hands of both public and private stakeholders. Bethel […]

1303, 2017

GB Chamber President calls for cooperation from GB stakeholders to grow economy

March 13th, 2017|Comments Off on GB Chamber President calls for cooperation from GB stakeholders to grow economy

Grand Bahama Chamber of Commerce (GBCC) President Mick Holding served as a guest speaker at the 19th Annual Grand Bahama Business Outlook, held Thursday, March 9 at the Grand Lucayan. During his presentation, Holding discussed […]

203, 2017

THE GRAND BAHAMA (PORT AREA) INVESTMENT INCENTIVES (EXTENSION OF TIME FOR APPLICATIONS) ORDER, 2017

March 2nd, 2017|Comments Off on THE GRAND BAHAMA (PORT AREA) INVESTMENT INCENTIVES (EXTENSION OF TIME FOR APPLICATIONS) ORDER, 2017

An extension of application for concessions Advisement released by The Ministry for Grand Bahama today which states in part that “The Office of the Prime Minister and Ministry for Grand Bahama, in collaboration with the […]

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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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