1. FOR IMMEDIATE RELEASE
Department of Inland Revenue Enforcing Business Licenses Penalties and Surcharges
November 2nd, 2015 (Nassau, Bahamas) - The Department of Inland Revenue
advises the public that Business License penalties are now in effect as of November 1,
2015.
Penalties for late filing and payment will be imposed as follows:
• $100 for late filing and late notification of inactivation or cessation of
business;
• For late payment, a fee of 10% of the tax liability will be imposed.
All business licenses expire on January 31st
, 2016. To avoid delay businesses should
begin the process of renewing their licenses, as soon as possible.
For more information email taxinquiries@bahamas.gov.bs or contact the Department
of Inland Revenue toll free at (242) 225 – 7280 or (242) 461 – 8050.