Bahamas, The

The government of The Bahamas enacted the Domestic Minimum Top-up Tax Act (‘DMTT Act’) on 29 November 2024 to implement Pillar Two of the Organisation for Economic Co-operation and Development (OECD)/G20 Two-Pillar Solution to base erosion and profit shifting (BEPS). Pillar Two seeks to establish a global minimum tax of 15% for multinational enterprise (MNE) groups with revenues of 750 million euros (EUR) or more (‘in-scope MNE group’) in two of the last four years. See the Taxes on corporate income section for more information.

The Business Licence (Amendment) Act, 2025 was introduced on 29 May 2025 and deemed to have come into operation on 1 January 2024 and provides that where a tax is payable under the Business Licence Act, a credit will be granted to those entities who are under the DMTT Act.