Search results
Results From The WOW.Com Content Network
Taxation. Taxation in the Bahamas is collected by the Government of the Bahamas. The Bahamas are considered a tax haven given the lack of income tax, capital gains tax, inheritance tax or company tax. [1] Government tax revenue is instead derived from consumption, property and import taxes as well as licence fees. [2]
An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. [1] However, this distinction is not always observed; for example, the UK's "inheritance tax" is a tax on the assets of the deceased, [2] and strictly ...
The economy of the Bahamas is dependent upon tourism and offshore banking. The Bahamas is the richest country in the West Indies and is ranked 14th in North America for nominal GDP. [8] It is a stable, developing nation in the Lucayan Archipelago, with a population of 391,232 (2016). Steady growth in tourism receipts and a boom in construction ...
The Royal Bahamas Defence Force ( RBDF) is the military of The Bahamas. Since The Bahamas does not have an army or an air force, its navy composes the entirety of its armed forces. Under The Defence Act, the Royal Bahamas Defence Force has been mandated to defend The Bahamas, protect its territorial integrity, patrol its waters, provide ...
The governor-general of The Bahamas is the representative of the Bahamian monarch, currently King Charles III, in the Commonwealth of The Bahamas. The governor-general is appointed by the monarch on the recommendation of the prime minister of The Bahamas. The functions of the governor-general include appointing ministers, judges, and ...
The Bahamas ( / bəˈhɑːməz / ⓘ bə-HAH-məz ), officially the Commonwealth of The Bahamas, [12] is a country in North America and the Caribbean. It is an island country within the Lucayan Archipelago of the West Indies in the Atlantic Ocean. It contains 97% of the Lucayan Archipelago's land area and 88% of its population.
Bahamian dollar. The dollar ( sign: $; code: BSD) has been the currency of The Bahamas since 1966. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar -denominated currencies. It is divided into 100 cents .
Bahamas Customs Service. Bahamas Customs & Excise Department is the agency of the Bahamian government responsible for collecting revenue and taxes. It was established on March 21, 1914, by an act of the Bahamian Legislature known as an Act to provide for the establishment of a Customs Department. About 55% to 60% of revenue collected in the ...