Uncategorized

Bahamas: Finance: No VAT on Amazon and eBay purchases

NASSAU, BAHAMAS — Acting Financial Secretary Marlon Johnson yesterday clarified that goods brought into the country will only be taxed at the point of entry, as concerns have surfaced on social media that taxes may also be levied on online purchases from online marketplaces such as Amazon and eBay.

Johnson said: “Goods brought into The Bahamas will only be taxed at the point of entry into the country as is done today.  Thus, goods bought from Amazon or eBay will not attract VAT by those companies.”

“By existing law (not anything new) all services consumed in the country are subject to VAT provided the vendor meets the minimum $100,000 per annum threshold for sales inside the country.

He said: “The Department of Inland Revenue has been working to ensure that the online vendors are aware of the laws of the country which is similar to most other countries where VAT or other sales tax is applied. As they become aware and work through their internal processes, they tend to comply without issue.”

MORE

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s