Bahamas Launches Online VAT Portal For Property Transfers
by Mike Godfrey, Lowtax.net, Washington
27 February, 2017
The Bahamas Department of Inland Revenue has launched a value-added tax (VAT) Stamp Correspondence Portal.
The VAT Stamp Correspondence Portal allows taxpayers to electronically submit conveyances and other supporting documents (sales agreements and appraisal reports) required for the assessment of VAT on property transfers.
Taxpayers using the Portal will receive an automated response confirming receipt of documents, be able to track the progress of transactions, and receive messages regarding submissions.
The Department of Inland Revenue has advised taxpayers that the following points should be strictly observed: the subject line should include both the attorney and client's names as well as a contact number; all documents must be sent as PDF files; and emails must not exceed 20MB in size.
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