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Bahamas Tax Information

10% VAT

VAT is 10%. No income tax or corporate tax. Registration required above BSD 100,000 turnover.

Accountant Services to Invoice

  • Bookkeeping
  • Tax preparation
  • Financial statements
  • Payroll services
  • Tax planning
  • Audit support
  • Advisory

Invoice Requirements in Bahamas

TIN number
VAT registration
Client details
Invoice number
VAT (10%)
Total in BSD

Payment Terms

Monthly bookkeeping billed monthly. Tax prep: 50% upfront, 50% on completion.

CashNet 15Net 30Due on Receipt

Payment Methods in Bahamas

Bank TransferRoyal Bank of CanadaScotiabankCredit CardCash

Accountant Invoice Tips

  • Reference service period
  • Detail returns prepared
  • Include software fees
  • Note complexity factors
  • Reference engagement letter

Frequently Asked Questions

What tax rate applies to accountant invoices in Bahamas?

Bahamas has 10% VAT. VAT is 10%. No income tax or corporate tax. Registration required above BSD 100,000 turnover.

What payment methods are common for accountants in Bahamas?

Common payment methods in Bahamas include: Bank Transfer, Royal Bank of Canada, Scotiabank, Credit Card, Cash. Monthly bookkeeping billed monthly. Tax prep: 50% upfront, 50% on completion.

What should accountant invoices include in Bahamas?

Your invoice should include: TIN number, VAT registration, Client details, Invoice number. For accountant services specifically, also include: Bookkeeping, Tax preparation, Financial statements.

How do accountants price tax preparation?

Based on complexity: forms, schedules, and documentation required.

Should accountants charge for questions?

Include reasonable questions. Track time for extensive consultations.

What is Bahamas' VAT rate?

Bahamas applies 10% VAT on most goods and services. The country has no income tax or corporate tax, making VAT the primary business tax.