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There is no corporate tax, withholding tax, payroll tax or transfer tax levied on businesses in the Bahamas. However, businesses require a licence to operate, which is charged at either a flat-rate of $100 or at up to 3% of turnover depending on the amount of revenue generated. [10]
Sunshine tax" or "Paradise tax" is an ironic term used in the United States and Canada to describe the phenomenon that salaries are often lower than the national average, and costs of living higher than the national average, in places that have a desirably temperate climate.
The Bahamas has no income tax, corporate tax, capital gains tax, or wealth tax. Payroll taxes fund social insurance benefits and amount to 3.9% paid by the employee and 5.9% paid by the employer. [15] In 2010, overall tax revenue was 17.2% of GDP. [16] A value-added tax (VAT) of 7.5% has been levied 1 January 2015. It then increased from 7.5% ...
Paradise Island is an island in The Bahamas formerly known as Hog Island. The island, with an area of 277 hectares (685 acres) [ 1 ] (2.8 km 2 /1.1 sq mi), is located just off the shore of the city of Nassau , which is itself located on the northern edge of the island of New Providence .
Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation. When a property is sold, the taxpayer pays/(saves) taxes on a capital gain /(loss) that equals the amount realized on the sale minus the sold property's basis.
The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...
The 280-acre (113 hectare) island sits between Belize City and the Bacalar Chico National Park and Marine Reserve, home to the largest barrier reef in the northern hemisphere and one of the world ...
Paradise Island Airlines was an American airline that connected Florida with Paradise Island in the Bahamas in the 1990s. [ 1 ] [ 2 ] According to the Official Airline Guide (OAG), the airline's two letter code was "BK".
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