No income #tax for the Bahamas residents😮 #thebahamas

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There is no personal income tax in the Bahamas, although residents do have to pay other forms of tax. All employees and those who are self-employed will have to pay national insurance from their salaries and this applies to all, even non-residents. These contributions fund the benefits system, but only Bahamian residents are able to claim.
The Bahamas is often considered to be a tax haven and is home to many wealthy people who would otherwise be paying large amounts of tax in their home country. The country also has a number of banks which offer offshore accounts and savings, which are traditionally used by those hoping to pay less tax on them.