> ## Documentation Index
> Fetch the complete documentation index at: https://docs.gobl.org/llms.txt
> Use this file to discover all available pages before exploring further.

# Commonwealth of The Bahamas

Value Added Tax (VAT) was introduced in The Bahamas in January 2015
as part of a broader reform of the tax system. The broad based consumption
tax is applied to almost all goods and services that are imported, bought
and sold for use in The Bahamas.

Businesses are identified by their Tax Identification Number, a 9 digit
identifier.

## Base Details

| Key | Value |
| - | - |
| Tax Country Code | `BS` |
| Currency | `BSD` |
| Base Time Zone | `America/Nassau` |

## Tax Categories

| Code | Name | Title |
| - | - | - |
| `VAT` | VAT | Value Added Tax |

### VAT Rates

| Rate | Keys | Name | Percents | Description |
| - | - | - | - | - |
| `general` | `standard` | Standard Rate | 10% | Applies to most taxable goods and services. |
| `reduced` | `standard` | Reduced Rate | 5% | Applies to some qualifying essential goods. |

## Validation Rules

<AccordionGroup>
  <Accordion title="tax.Identity">
    | Field | Test | Validation Code / Message |
    | - | - | - |
    | `code` | <ul class="gobl-test"><li>Code in \[BS]</li><li>Matches ^\[0-9]{9}\$</li></ul> | `GOBL-BS-TAX-IDENTITY-01`<br />Tax id code must be a valid TIN |
  </Accordion>
</AccordionGroup>


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