On the 22 November 2016, the Department of Inland Revenue of Bahamas made an amendment to the Value Added Tax (VAT) Act.
It introduced a change in the deadline for filing VAT returns and making payments for VAT.
The new resolution took effect from 1 January 2017 and prescribed that the new deadline for filing and making payments for VAT is now the 21st day of the month following the end of the VAT return’s period.
VAT registered businesses must therefore ensure they file their VAT returns and make the associated payments due by the 21st of the following month. This is a change from the previous date which was the 28th of the following month.