Bahamas Gazettes VAT (Amendment) Act, 2024

The Bahamian Official Gazette June 27 published Law No. 18/2024, on the VAT (Amendment) Act, 2024. The law includes measures: 1) clarifying that VAT imposed on the supply of real property is chargeable at a zero percent rate on the value of the real property supplies specified in the First Schedule, and at the rates specified in the Third Schedule on the value of any supply that is not zero-rated; 2) specifying the conditions under which the recipient of a real property supply may be subject to a fine or penalty; 3) explaining that, from May 29 to Nov. 30, ...