The Bahamas government has published the Business License Bill 2023, which was presented along with the country's budget for 2023/24. The Bill repeals and replaces the Business License Act 2010, establishing new rules for the Business License Tax. Among other things, this includes a new rate schedule and an expanded scope of taxable turnover, notably covering the turnover of International Business Companies (IBCs) earned outside the Bahamas. Once enacted, the Bill will enter into force on 1 July 2023, although a year of assessment for the Business License Tax is the 12-month period commencing on the 1st day of January...