HOW TO MAKE THE MOST OF THE CURRENT CONCESSIONS

Demystifying the Current Concessions

I. Exemption Extensions in the SERZ* (Special Economic Recovery Zone) until June 30, 2021:

No VAT on Construction-related supplies and activities until the end of December 2021

No VAT on local fuel

VAT discount on the sale of real property transactions up to $500,000 expires June 30th, 2021.

II. Importation of Tax Free Goods

Exemptions on furniture, appliances, hardware supplies, building materials, electrical & plumbing fixtures and materials have been extended until June 30, 2021. 

1) Process for Direct Cargo Imports into the Zone

1. A tax relief consolidated form must be completed.
2. In Abaco, submit to Hurricane Dorian One Stop Shop in Government Complex in Marsh Harbour
3. Forms can be emailed to patricialewisdeane@bahamas.gov.bs or medinataylor@bahamas.gov.bs
4. Approved forms must be uploaded with your Customs Declaration.

2) Direct Import of Goods as Accompanied Baggage

1. Complete the tax consolidated form and submit upon entry.
2. Form will be approved on site by a Customs Officer.
3. The maximum value of goods per trip is $5000.00.
4. This is not for business/commercial shipments.

CLICK HERE FOR:

Tax Relief Consolidated Form

*SERZ includes the islands of Abaco, the Abaco Cays, Grand Bahama, Sweetings Cay, Deep Water Cay and Water Cay.

Click here for information on the Real Property Tax Forgiveness Program

**Watch this space for further updates**