NASSAU, BAHAMAS — The Department of Inland Revenue’s acting controller yesterday acknowledged there were delays in the processing of business licenses, telling Eyewitness News the department should be back on track by March 1.
Gaynell Rolle explained the delay had been in large part due to the fact that the department was also tasked with assisting with filings under the Commercial Entities (Substance Requirements) Act (CESRA).
Companies and partnerships operating in The Bahamas are required to file declarations confirming they have a physical presence in The Bahamas and are conducting active business.
“We had a bit of delay that has now been addressed with regard to the business license. We were assisting with the CESRA filings with pretty much the same manpower we have always had,” said Rolle.
“Now that that that is behind us, we are pretty much getting up to speed and by March 1, we should be on target.”
She added: “We found that a lot of persons had applied for a business license for the first time and that process would have taken a bit longer in light of the information required.
“If someone was just renewing a business license, there would have been a faster response.
“We have seen an increase in requests for licenses for new businesses. Due to the state of the economy, many persons are seeking employment or looking to supplement their income.”