CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Property Tax Amnesty Launched In The Bahamas

Property Tax Amnesty Launched In The Bahamas

by Phillip Morton, Investors Offshore.com

12 March 2013


The Bahamas Government has legislated for a new property tax amnesty, which encourages taxpayers to join the property tax registry and settle any outstanding tax dues.

Under the terms of the amnesty, persons with residential or commercial property valued at over BHD250,000 (USD250,000), and with tax arrears dating back no more than three years, must make a declaration and full payment by June 30, 2013, to benefit from a 50% waiver of the total tax due and the total surcharge payable.

Persons with residential or commercial property with tax arrears dating back more than three years will have until December 31, 2013, to make a full declaration and payment, and will benefit from a full waiver of surcharges.

Persons who avail themselves of the initiative, and continue to be compliant will be entitled to a rebate worth 5% of the annual tax assessed in the three years following the scheme.

TAGS: compliance | tax | business | tax compliance | Bahamas | property tax | tax avoidance | law | real-estate | enforcement

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »