31/08/2026
The Department of Inland Revenue has announced that its One Tax Bahamas (OTB) portal – which is expected to improve the payment of taxes and fees to the DIR – will officially launch on September 1.
The change to OTB will allow the DIR to issue new Bahamas identification numbers (BIN), which will be an addition to the existing tax identification numbers (TIN). This will allow entities to better manage payments to the DIR, whether it is business license fees, value-added tax (VAT), real property tax or other taxes.
BIN numbers will be rolled out in modules for businesses this November. Next year, the DIR will roll out BIN numbers for real property tax purposes, so as not to overwhelm the public with the changes.
OTB replaces the government’s One Tax Administration System (OTAS), which was introduced as a result of the implementation of VAT in 2015.
“OTAS enabled the department to deal with VAT and business license on one platform, but our other taxes, like real property tax and VAT stamp, and all of the other taxes and all of the other services that the department deals with, are on other platforms,” said Director of the Department of Inland Revenue (DIR) Shunda Strachan yesterday, during a press briefing at the Office of the Prime Minister.
She continued: “For us, that’s posing a bit of a challenge, not only for us but also for the general public. And so, as a result, the government decided that it was time to upgrade all of our digital tax equipment and services, platforms, and all of the like.
Strachan said that as a result of recommendations from accounting giant KPMG, the government decided to improve the tax administration system.
“The Department of Inland Revenue was graded in 2022. The government contracted KPMG to come in and to assess how the Department of Inland Revenue was really doing, how we were performing in terms of servicing our taxpayers, collecting revenue, dealing with arrests, and all manner of things.”
Strachan continued: “There is no need for panic because we’ve started early. And so BIN registration starts September 1, but really, you’re going to need your BIN for the upcoming 2027 business license renewal period.
“So, we’re saying to people, come in early, start early, don’t wait, don’t be like us. You know, we’re typical Bahamians, we wait to the last minute to do everything, but use the time to get yourself familiar with the system.
