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Real Estate

19 July 2019
Chelon Carr-Newbold New tax reforms in effect

Bahamas - Lennox Paton

In the 2019/2020 Budget Communication the government announced various tax reforms which came into effect on 1 July 2019. Among other things, the cap on owner-occupied property has increased from B$50,000 to B$60,000 per year and stamp duty on real property has been replaced by value added tax (VAT) at the same rates. Further, any party that is required to become a VAT registrant must have a business licence.

Author: Chelon Carr-Newbold
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