The Bahamas Senate has approved a revised credit mechanism for the domestic minimum top-up tax (DMTT). As previously reported, the Bahamas Government tabled the Business Licence (Amendment) Bill 2025 and the Domestic Minimum Top-Up Tax (Amendment) Bill 2025 in Parliament on 26 February 2025, which make amendments to allow companies subject to the domestic minimum top-up tax (DMTT) in the Bahamas to credit their business licence tax payments against their DMTT due for a year. Under current law, companies subject to the DMTT are exempted from business licence tax, which results in potential cash flow issues for the government. As...