Bahamas, The

The Bahamas, officially the Commonwealth of The Bahamas, is an Atlantic archipelago with more than 3,000 islands, islets, and cays. Its capital city, Nassau, is on the island of New Providence.

The Bahamas is a unitary parliamentary constitutional monarchy with King Charles III as head of state, represented by the Governor-General. The Prime Minister leads the government and must be a majority member of the House of Assembly.

English is designated as the official language.

The Bahamian dollar (BSD) has served as the official currency of The Bahamas since 1966. It maintains a fixed one-to-one exchange rate with the United States (US) dollar, and US currency is commonly accepted within the country. Additionally, the Central Bank has implemented the Sand Dollar, a digital iteration of the national currency.

Most employment opportunities and economic activity in the country come from tourism, followed by financial services as the second largest contributor to gross domestic product (GDP).

The Bahamas is a member of several international and regional organisations including the following:

• International Monetary Fund (IMF)
• World Bank
• Caribbean Community (CARICOM)
• Caribbean Financial Action Task Force (CFATF)
• Economic Partnership Agreements (EPA) with the European Union and the United Kingdom

PwC Bahamas

For more than six decades, PwC Bahamas has supported local enterprises as a member of PwC’s Caribbean network.

Operating out of Nassau, New Providence, PwC tax service offerings include tax advisory/consulting and compliance across the Bahamas tax landscape and principally include Value Added Tax, Business Licence Tax, Stamp Tax, Real Property Tax, hotel/casino taxes, and customs duties. PwC Bahamas further offer audit, assurance, risk management, advisory (consulting and deals), regulatory compliance and legal solutions, and payroll services.