By FAY SIMMONS

TRIBUNE BUSINESS REPORTER

jsimmons@tribunemedia.net

BAHAMIANS will begin moving onto a new tax system from September 1, with the Department of Inland Revenue introducing a 10-digit Bahamas Identification Number that will eventually link taxpayers' various dealings with government under one system.

The new One Tax Bahamas platform is being introduced to replace the department's existing fragmented tax systems, with registration for the new Bahamas Identification Number (BIN) beginning September 1.

Shunda Strachan, acting controller of the Department of Inland Revenue, said the overhaul is aimed at making it easier for taxpayers to manage their obligations while also giving the department a more comprehensive view of taxpayers across the various taxes it administers.

He said the department currently uses its One Tax Administration System, or OTAS, to manage value-added tax and business licence, while other taxes and services, including real property tax and VAT stamp, operate on separate platforms.

"OTAS enabled the department to deal with value-added tax and business licence on one platform, but our other taxes, like real property tax and VAT stamp, and all of the other taxes and services that the department deals with, are on other platforms," said Ms Strachan.

"That was posing a bit of a challenge, not only for us but also for the general public."

She said the government consequently decided to upgrade the department's digital tax systems and services, resulting in One Tax Bahamas.

Central to the new system will be the Bahamas Identification Number, or BIN, which will replace the need for taxpayers to use separate identifiers across their dealings with government.

"With One Tax Bahamas, all taxpayers will be required to register for a new tax number," said Ms Strachan.

"The Bahamas Identification Number will allow us to manage all of our taxes — real property tax, value-added tax, business licence. It will be required for the importation of goods."

The BIN will also be used as the government's vendor identification number, meaning people receiving certain payments from government will also need to have one.

"I dare say the BIN will also be the government's vendor ID. So, for any payment that you will receive from government... you will be required to have a BIN," she said.

"The BIN will be a good thing for you because it will allow you to manage everything that you have going on with the government."

Ms Strachan stressed that the BIN will not completely eliminate the existing Tax Identification Number.

"The BIN will not totally replace the TIN. The TIN will still be there. It will still sit as your unique identifier for value-added tax, but the Bahamas Identification Number will be all-encompassing," she said.

She said the new system will be introduced in stages to avoid overwhelming taxpayers and to allow Inland Revenue staff to become familiar with the new platform.

"The first phase has been registration. Sometime in November, we will be rolling out the modules for business licence and value-added tax. Then next year we will be rolling out the modules for real property tax."

"We're going to be doing it in phases because we realize we don't want to overwhelm anybody, and also we're going to be allowing our staff to be properly trained on the system."

The department is moving from its existing platform to an Oracle-based tax suite.

"We're moving from our current platform onto an Oracle platform. It's really an Oracle tax suite that we're moving towards, and so we're going to be doing it in phases," Ms Strachan said.

She said taxpayers should begin the registration process early, particularly ahead of the 2027 business licence renewal period.

"BIN registration starts September 1. But really, you're going to need your BIN for the upcoming 2027 business licence renewal period. So we're saying to people, come in early, start early. Don't wait."

The department will also offer training and online tutorials to assist taxpayers with registration.

"We will be having training starting as early as tomorrow. There will be a series of trainings that persons can come and enrol in, even on the weekends. We will have online tutorials that will help you with registering for your Bahamas Identification Number."

Ms Strachan said the new system should also address longstanding concerns about the department's ability to handle high volumes of taxpayers.

"That's another reason we're moving to a new platform. So we should see improvements. Our taxpayers will see improvements in how the system handles the volume of taxpayers interacting with the system."

For taxpayers filing their final quarter of the current year, Ms Strachan said the existing system will remain in use during the transition.

"For quarter four, they will file on the old system. Quarter one and going forward for 2027 will be on the new system."

The department's website is already promoting One Tax Bahamas and BIN registration resources.