The Value Added Tax (VAT) Department reminds the public that the deadline is fast approaching for the second VAT filing period for quarterly filers.
The deadline for the quarterly filing period for small and medium businesses is July 28th, 2015 which means registrants should file and pay on or before that date.
For assistance with filing and payment, taxpayers can view two videos released by the VAT Department early this year: ‘How To File A VAT Return’ and ‘How To Make A VAT Payment’. Both videos can be viewed by selecting the appropriate link under the Video Tab on the government’s website at www.bahamas.gov.bs/VAT.
VAT Registrants must also be aware that there are several methods to pay VAT including paying online through the Online Tax Administration System (OTAS), using your bank’s online banking service and over-the-counter at most banks.
All payments must be submitted by the due date. If you use the online system or pay over the counter at your bank, it is recommended that you pay at least three working days before the due date, to meet the deadline and avoid penalties and interest.
Please note that walk-in or mail-in payments at the VAT Department are not accepted.
Also, key VAT Operations are now located in new facilities at the Department of Inland Revenue (CRA) in the Shops at Carmichael Plaza, Carmichael and Palmetto Roads.
For more information contact the VAT Department at email@example.com or call Client Services at (242)-225-7280
July 20th, 2015