Business licence fee estimator
Estimate the annual business licence fee for your business from its turnover. You'll see which fee band applies and why, the fee as a percentage of turnover, and the key deadlines.
Estimated fee
How this is calculated
Your turnover falls into one fee band. Depending on the schedule, the band sets a flat fee, a percentage of turnover, or both. A minimum fee may apply.
Most businesses
The general rate. Farming, fishing and food processing, hotels, gas stations and financial services businesses have their own rates, not shown here.
| Band | Charge |
|---|---|
| Up to $100,000 (exempt) | 0% |
| $100,000 – $500,000 | 0.5% |
| $500,000 – $5,000,000 | 0.75% |
| Over $5,000,000 | 1.25% |
Rates are from the Second Schedule of the Business Licence Act, 2023, as revised from 1 July 2024. Each band's rate applies to your whole turnover, not just the part inside the band.
Worked example
A business with $180,000.00 turnover falls in the band $100,000 – $500,000. Its estimated fee is $900.00, or 0.50% of turnover.
Importing stock or equipment? Estimate customs duty on duty242.com.
Deadlines and penalties
- Business licences expire on 31 December. Renewal applications are due by 31 January; filing late adds a $100 fee.
- The turnover return and tax are due by 31 March, or the tax can be paid in four instalments starting by 31 March. Paying late adds 10% of the tax, plus 5% a year interest once it is 30 days overdue.
Frequently asked questions
What is turnover?
Turnover is your business's gross revenue for the year: the total of what you sold or billed, before expenses. It is not profit.
Do I need a business licence?
Most people carrying on business in The Bahamas need a business licence from the Department of Inland Revenue, renewed each year. Check the official guidance for exemptions.
I am starting a new business. What turnover do I use?
Use your realistic estimate of first-year turnover. Inland Revenue may ask you to adjust it at renewal when actual figures are known.
Is there a penalty for renewing late?
Late renewal can attract penalties. See the deadlines on this page and the official site for current amounts.
Sources
- Department of Inland Revenue – Business Licence
- Business Licence Act, 2023 – Second Schedule
- Business Licence (Amendment) Act, 2024 – revised Second Schedule
Rates last verified: 2026-10-07. Rates effective from 1 July 2024. Rate changes log
This is an estimate for planning only. Confirm figures with the relevant government department, your bank or a qualified professional before making decisions. See our terms.