During the 2010 session in the House of Assembly, 33 Bills were passed into law.<\/p>\n
Among those was the Business License Act, which was passed in July 2010.<\/p>\n
It was the topic of discussion for Minister of State for finance Zhivargo Laing at a town meeting in San Salvador who noted that it makes conducting business in The Bahamas easier.<\/p>\n
He said of the Act that was passed in January 2011, that businesses are now taxable every year and business owners are simply required to send in a form outlining how much they made during the year.<\/p>\n
“Once I know how much you made, I will be able to assess your taxes, and it is going to be a Business License Tax.<\/p>\n
“If you are making $250,000 or less a year, for the next two years, you will have no Business License Tax to pay because you are exempt under this new law,” Laing said. “Before it used to be $50,000, but now it is $250,000.”<\/p>\n
Laing also said the Business License Act eliminates much of the paperwork that previously came with applying for a business license. Businesspersons are no longer required to apply for numerous licenses to run their businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"
Minister of State for finance Zhivargo Laing stated at a recent town meeting that the Business License Act makes conducting business in The Bahamas easier.<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[153,40,49],"class_list":["post-12539","post","type-post","status-publish","format-standard","hentry","category-business","tag-business-2","tag-government","tag-law"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/12539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=12539"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/12539\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=12539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=12539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=12539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}