Manufacturing
:: Industries Encouragement Act
Responsible Agency
Ministry of Financial Services
Available concessions
- No customs duties (machinery, equipment, raw materials and construction materials)
- No export taxes (exports of the product manufactured)
- No income taxes (manufacturer’s profits)
- No real property taxes (factory premises)
Duration of concessions
- Customs duties (on machinery, equipment and construction materials): once only, at time of registration, subject to limited exceptions
- Customs duties on raw materials: as long as manufacturer remains an “Approved Manufacturer”
- Export taxes: 15 years
- Import taxes: 15 years
- Real property taxes: 15 years
Other requirements
Customs Bond
:: Tariff Act
Responsible Agency
Ministry of Finance
Available concessions
- Customs duty exemptions on specified materials and equipment
- 10% customs duty on specified materials and equipment used in the commercial printing industry
Duration of concessions
1 year, subject to annual extension up to a maximum of 5 years
Other requirements
Applicable only to small businesses in handicraft industry or in cottage or light industries
:: Spirits and Beer Manufacture Act
Responsible Agency
Ministry of Finance
Available concessions
- 100% customs duty rebate on exports of alcohol, spirits, gin, vodka, rum and beer manufactured in The Bahamas
- 80% customs duty rebate on alcohol, neutral or cologne spirits if used to produce gin, vodka or other similar product
- No duty on imports of all raw materials, machinery, tools, fixtures, equipment or supplied to be used solely in a licensed distillery or brewery, for businesses under 5 years; 10% for businesses over 5 years
- Refund of customs duties on construction and other related materials used for a licensed distillery or brewery
Duration of concessions
- As long as manufacturer is licensed (25 year max duration of licence)
- Customs duties (on construction materials and equipment): once only, at time of licensing, subject to limited exceptions
Other requirements
- Licence to distill or brew beer or spirits
- Customs bond
- Declaration that articles to be used solely for licensed distillery or brewery factory