Income tax on rent, worked example, in Bahamas

Taxation Researcher | November 25, 2016

Non-resident couple´s rental income1
Monthly Rental Income2 €1,500 €6,000 €12,000
Annual Rental Income 18,000 72,000 144,000
= Taxable Income 18,000 72,000 144,000
Income Tax3
Flat rate 0% - - -
Annual Income Tax Due - - -
Tax Due as % of Gross Income 0% 0% 0%
Source:
GPG

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 USD = 1.00 BSD

3 Estimated values. Income-generating expenses are deductible when calculating taxable income.

4 Rental income earned by nonresident individuals is not subject to any income tax.

 

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