The Department of Inland Revenue has required Bahamian Entities that are subject to the Domestic Minimum Top-up Tax Act 2024 (“DMTT Act”), to submit a pre-registration notification in the Form DMTT‑24 (“DMTT Notification Form”).
Please see official link here: Department of Inland Revenue – DMTT
The DMTT Notification Form is required for all Bahamian Entities in MNE Groups that are within scope of the DMTT Act for their 2024 Fiscal Year and must be submitted no later than 31 March 2026.
The DMTT Act seeks to implements a Qualified Domestic Minimum Top-Up Tax consistent with the OECD Pillar Two Rules.
The Higgs & Johnson’s Tax Practice Group advises clients on the applicability of the DMTT Act to their operations in The Bahamas. If you require advice to determine whether your business is within scope of the DMTT Act; and the correct process for completing and submitting the DMTT Notification Form, you may contact:
Patricia Jackson, Chair
Alexandra Hall, Deputy Chair
