Tax on property income in Bahamas
Taxation Researcher | March 16, 2023
Tax Rate on Rental Income
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Global Property Guide research
The Bahamas lacks any form of taxation on income, sales, estates or inheritances. The only direct tax is a real property tax.
There is no rental income tax in the Bahamas.
There are no capital gains taxes in the Bahamas.
Business licenses are required when leasing property in the Bahamas. Renewed annually, license fees may cost anywhere from US$250 to US$1,250 or even more as the applicable rates depend on the profits.
Real Property Tax
Real property taxes are imposed on the assessed market value of the property. The tax rates vary depending on the property´s classification and value.
TAX ON OWNER-OCCUPIED PROPERTIES
|TAX BASE, US$||TAX RATE|
|Up to US$250,000||0%|
|US$250,000 - US$500,000||0.625% on band over US$250,000|
|Over US$500,000||1% on all value over US$500,000, max $50,000|
|Source: Global Property Guide|