Small and medium-sized businesses are eligible to apply for and obtain duty-free exemptions on all items needed to start or expand their business, this includes the first stock of inventory, regardless of their location in The Bahamas.

The applicable exemption waivers will be for duties on commercial items procured locally and internationally.

Learn more about Small and Medium Business Exemption eligibility requirements.

See guidance documents from the Revenue Department, Ministry of Finance about the tax concessions available for Small & Medium Business.

Nationality

• Bahamian citizens, 18 years old or older, residing in The Bahamas or abroad

Business Licence

• The applicant must currently possess a business licence

Sales Turnover

• Must have a turnover of less than 5 million dollars per annum
• Should applicant be a limited company, please give the name(s) of beneficial shareholders

Application and Approval Period

• The applicant is allowed exemption within a one year period.
• Applicants approved for the exemption on items within the period of one year may not apply for the same items until the following year. i.e. One-time approval within a one year period.

Supporting Documents 

• Applicants must provide the following support documents: business national insurance number, tax compliance certificate, business licence number, invoice, income statements
• Once approved, the applicant can then use the exemption document (certificate) to present to customs.
• If rejected, the applicant is required to pay the normal duties stipulated by the Customs Department.
• Documents and items are also subject to physical inspections and review by the Revenue Section.

Start-up Business Exemptions

• First Time Inventory - There is a limit on a first time inventory. Only startup businesses are eligible for exemption.
• Inventory may be granted to existing businesses if opening a new or secondary location
• Equipment/Machinery must to relate to the business