@lambo.242: Does every Bahamian need to register for a BIN? 🇧🇸 That’s one of the biggest questions I’ve seen since One Tax Bahamas was announced. Part of the confusion is the word “taxpayer.” Most of us pay taxes like VAT when we buy goods and services, but that does not necessarily mean every individual has a direct tax filing obligation with the Department of Inland Revenue. The new 10 digit Bahamas Identification Number, or BIN, is intended to become the broader identifier used across services like Business Licence, VAT, Real Property Tax, imports, and certain government payments. Registration begins September 1st, but the rollout is happening in phases, and businesses will specifically need a BIN for the 2027 Business Licence renewal period. So based on the guidance released so far, I would not interpret this as every Bahamian needing to rush out and register tomorrow simply because they pay VAT at the store. As more official guidance becomes available, I’ll keep breaking it down. #bahamastiktok #bahamiantiktok🇧🇸 #onetaxbahamas #financialliteracy #investing

Elestina242 :

Thank you now this explanation was understandable

Thea.monique :

This is the information I went on the government website for thanks Fluff

Humble Jæÿ :

its going to be individualy they just making it seems like its only for business owners we getting more taxes with no benefits or some kind of returns they following the uniteds but wont give us the benefits the uniteds gives like tax return 😠

LaineyB :

Thank you for layman's.

RG :

say one tax Bahamas that time minimum wage only $260 tf yal on

MOB Bahamas Inc. :

no I dont have to register with them at all they crooked. when are they going

Carven Evans :

thank u boss

getblazy :

this is sad taking money from island people then when you buy something another vat , people they taking 35 percent it's gonna kill poor people

ESWilky :

This is only first phase roll out. Eventually almost every Bahamian going to need it

cathyCatherine Sweeting :

@cathyCatherine Sweeting: Excellent job. Because ignorance is very dangerous. I am glad you've explained this. Thank you.🌹

Melting :

What about paying my property tax

sarajswain1 :

summer :

👍👍👍

John Ash :

👏👏👏

Chinagirl :

😁😁😁

roseshaquon1 :

Smt upgrade the system and any tax return they can’t keep up with regular taxes but they tryna take more money boy that Haitian in office gone fix yall good suck yall dry 😏