Paying Taxes in the Bahamas

The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Bahamas, the, as well as measures of administrative burden in paying taxes.

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Tax or mandatory contributionPayments (number)Notes on PaymentsTime (hours)Statutory tax rateTax baseTotal tax rate (% profit)Notes on TTR
Business license fee1 101.5% or $500,000turnover or flat fee (whichever is greater)33.1 
Social security contributions12 485.4%gross salaries6.1 
Stamp duty1 -10.0%sale price5.1 
Property tax1 -1 and 2%market value of property1.6 
Fuel tax1 -27.5% + 7% Stamp on all Fuelsdiesel fuel1.2 
Vehicle tax1 -$100-350variable0 
Totals:17 58  47.0 


Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.