Bahamas, The

There are currently no corporate income taxes in The Bahamas.

Pillar Two

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 OECD/G20 Two-Pillar Solution to BEPS. Pillar Two seeks to establish a global minimum tax of 15% for MNE groups with revenues of EUR 750 million or more (‘in-scope MNE group’) in two of the last four years.

The DMTT Act became effective 1 January 2024 and applies to fiscal years of an MNE group that begin after 31 December 2023, except that it does not apply to a constituent entity of the group in respect of a fiscal year of the group that begins before 1 January 2025 unless the group or any of its constituent entities is subject to an Income Inclusion Rule (IIR) or Undertaxed Profits Rule (UTPR) in another jurisdiction in respect of that fiscal year.

Each MNE under the DMTT Act will be required to complete the Global Anti-Base Erosion (GloBE) Information Return, as issued by the OECD, within 15 months of their fiscal year-end and file it with the relevant tax authorities within The Bahamas.

For more detailed information and the most recent updates, please visit PwC’s Pillar Two Country Tracker.