Taxation of international executives
The Bahamas has no income, company, capital gains, wealth, succession, or gift taxes. The only direct taxes are value added tax (VAT), real property tax and license fees. The majority of the tax revenue in the Bahamas is derived from VAT, import and excise duties, stamp duties, casino tax, and license fees. Value Added Tax came into effect on 1st January, 2015.
The official currency of the Bahamas is the Bahamian Dollar (BSD).
Herein, the host country refers to the country to which the employee is assigned. The home country refers to the country where the assignee lives when he/she is not on assignment.
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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.