Bahamas (BS)
An English-speaking Caribbean archipelago close to Florida, known for high-end tourism, no personal income tax, strong financial services, second-home communities, turquoise water and very high island living costs.
Tax & Payslip Guide
Understanding your taxes in Bahamas — tax year Calendar year for most individual and property planning; business licence and VAT periods depend on registration..
📊 Income Tax Brackets
| Income from | Income to | Rate | Notes |
|---|---|---|---|
| 0 | ∞ | 0% | The Bahamas has no personal income tax, but payroll NIB, VAT, property tax, business licence tax, customs duty and foreign home-country tax may apply. |
🏛️ Social Contributions
From July 1, 2024 rates apply on insurable wages up to BSD 810/week; employer remits monthly by the 15th of the following month.
Self-employed persons contribute on selected insurable income up to the BSD 810/week ceiling.
Available only in specific resident/previously insured circumstances and does not cover all benefits.
🛒 VAT Rates
VAT is the main broad-based consumption tax. Some essential food, medical and hygiene products use a reduced 5% rate.
🧾 Sample Payslip Decoder
🌍 Special Expat Tax Rules
The Bahamas is attractive because it has no personal income, capital gains, inheritance or wealth tax, but this does not eliminate home-country tax for US, UK, Canadian or EU residents/citizens.
📋 Double Tax Treaties
Treaty coverage is limited compared with major economies. Foreign tax residence and reporting must be checked separately.
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