How Long Does It Take For a Caribbean Company to Pay Taxes?

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Above: downtown Nassau, Bahamas (CJ Photo)

By the Caribbean Journal staff

Paying business taxes takes a long time, no matter where you are in the world.

In the United Arab Emirates, it takes about 12 hours every year — that’s the low end. In Brazil, at the high end, it takes a whopping 2,600 hours every year.

So what’s the administrative burden like in the Caribbean?

According to the World Bank’s latest Doing Business report, which examines the average administrative burden on a medium-sized company, the shortest amount of time it takes to pay taxes in the Caribbean is in the Bahamas, where it takes 58 hours each year.

The next-quickest-time is in St Vincent and the Grenadines, where it takes 108 hours, followed by St Lucia, where it takes 110 hours each year to pay business taxes.

See below for the full rankings.

taxes

 

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