Taxation of international executives
A work permit is required to take up residency.
Normal payroll requirements apply except that exchange control approval is required to remit a portion of salary to the home country.
No income tax; however, the social security deducations are applied up to BSD 33,804 of income.
Are there any additional considerations that should be considered before initiating a short-term assignment in the Bahamas?
Consult prospective employer for documents required to be submitted with work permit application.
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.