Government Concessions

The Laws of The Commonwealth of The Bahamas makes provision for concessions for the development of the country. These concessions are granted based on qualifications of the applicant to the relevant act. Some concessions provide for complete tax exemption of duty while other concessions provide for a reduction of duties. The reason is to encourage Industrial development, Agriculture, Hotel and Tourism or Manufacturing. Further concessions are granted for emergency recovery through NEMA as well as development of specific Historical or cultural protection and development.

The Following are Exemptions and Concessions Offered by the Ministry of Finance

• Small Business Guarantee of Loans
• Tourism Development Loans Guarantee Programme
• Emergency Relief Loan Guarantee Programme
• Exemption for the importation of Commercial Printers
• Exemption for the importation of Equipment and Machinery
• Exemption for the importation of Materials and Supplies
• Exemption for the importation a New Vehicle
• Reduce Rates Custom Duty for Raw Materials
• Exemption for importation of Material for Historical Buildings
• Exemption from Real Property Tax for Historical Buildings

In addition, there are numerous business and investment incentives offered by the Government of the Bahamas which are regulated and enforced by the Customs Department. These incentives were created to attract more foreign investors to the Islands of the Bahamas. For further information please refer to the following;

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