The Bahamas Department of Inland Revenue announced that its new application for the online registrations of Business Licences is scheduled to go live on August 4th
The Online Tax Administration System (OTAS) is set to provide businesses with a simple and user-friendly online application and payment system. According to the tax office, the same system with that used for Value Added Tax (VAT) registrations will be used for this.
According to the Department of Inland Revenue, the addition of the business licence section to OTAS creates a convenient online experience for owners and taxpayers. OTAS users will be able to complete both business licence and VAT registrations in an online environment with internet access anywhere and at any time.
To reduce waiting time the system will include an online form requesting documentation and information similar to that of a paper application, and following submission of such it will generate an automatic e-mail response confirming the submission of application and payments. All inquiries can be made directly through the portal. As a final step the business licence will be e-mailed directly to the registrant.
Are you interested in setting up a tax efficient offshore company? Visit our Offshore Company Formation
Do you want to open an offshore bank account for your company or yourself? Discover more on our Offshore Bank Account Opening
Open an offshore merchant account
for your website.