Source-cited draft: payroll & social contributions for Bahamas (tax year 2025) — rates, thresholds and rules with primary-source citations. Unverified; pending local-accountant review.
Source-cited draft.Written from sources but not reviewed by a licensed practitioner, so it may be incomplete or wrong. General reference only; don't file or take a position on it without professional review.
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Every figure is drawn from this Tax Guide and cited to its source.
Overview
The Bahamas has no income tax PAYE, but employers must withhold and remit National Insurance Board (NIB) contributions on insurable wages. Rates and the insurable wage ceiling were increased effective 1 July 2024.
Employee contribution rate (employed persons)
4.65% of insurable wagesNational Insurance Act — https://www.nib-bahamas.com/about-nib/contributions/
Employer contribution rate (employed persons)
6.65% of insurable wagesNational Insurance Act — https://www.nib-bahamas.com/about-nib/contributions/
Combined contribution rate (employed persons)
11.3% (4.65% employee + 6.65% employer)National Insurance Act — https://www.nib-bahamas.com/about-nib/contributions/
Insurable wage ceiling (weekly)
BSD 810 per weekNational Insurance Act — https://www.nib-bahamas.com/2024-adjustments-to-the-insurable-wage-ceiling-pensions-and-grants/
Insurable wage ceiling (monthly)
BSD 3,510 per monthNational Insurance Act — https://www.nib-bahamas.com/2024-adjustments-to-the-insurable-wage-ceiling-pensions-and-grants/
Self-employed contribution rate
8.8% of insurable income (self-employed persons pay both portions)National Insurance Act — https://www.nib-bahamas.com/about-nib/contributions/
Income tax withholding (PAYE)
None — no income tax is withheld from wages; only NIB contributions are deductedNational Insurance Act
Contribution remittance deadline
By the 15th day of the month following the contribution monthNational Insurance Act — https://www.nib-bahamas.com/about-nib/contributions/
Employer registration
Employers must register with the National Insurance Board and obtain an employer registration number before paying wagesNational Insurance Act — https://www.nib-bahamas.com/about-nib/contributions/
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Other Bahamas computations in the OpenAccountants Tax Library.