Bahamas Providing Tax Credit and Deferral for Retaining Employees

According to recent reports, the Bahamas is providing a tax credit and tax deferral employment retention program to support businesses that retain employees in light of COVID-19.

The program provides relief in the form of a tax credit or deferral for business license fees and VAT for the months of April, May, and June 2020 for businesses that retain at least 80% of their employees on 29 February 2020 to 31 October 2020. Further, a business must be in good standing with their business license…