Bahamas - Special considerations for short-term... | KPMG | GLOBAL
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Bahamas - Special considerations for short-term assignments

Bahamas - Special considerations for short-term...

Taxation of international executives

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For the purposes of this publication, a short-term assignment is defined as an assignment that lasts for less than one year.

Residency rules

Are there special residency considerations for short-term assignments?

A work permit is required to take up residency.

Payroll considerations

Are there special payroll considerations for short-term assignments?

Normal payroll requirements apply except that exchange control approval is required to remit a portion of salary to the home country.

Taxable income

What income will be taxed during short-term assignments?

No income tax; however, the social security deducations are applied up to BSD 33,804 of income.

Additional considerations

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.

© 2018 KPMG, the Bahamas partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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.

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