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Set Up Your Business

Configure your business profile to start managing VAT compliance.

Account Type​

When setting up, choose your account type:

  • New Business — Create a new business profile from scratch
  • Join Existing — Enter an invitation code to join an existing firm or business

Required Information (New Business)​

  • Business Name — Your registered business name
  • TIN — Tax Identification Number (9 digits, no "V" prefix)
  • VAT Number — Your VAT registration number (optional during setup)

Optional Settings​

After initial setup, you can configure additional details at Settings > Business:

  • Trading Name — Name you operate under (if different from registered name)
  • Business Address — Physical location in The Bahamas
  • Industry — Helps with transaction categorization
  • Food Store License — Required for 5% reduced rate eligibility on breadbasket items
  • Logo — Upload for branded VAT invoices and reports
  • Filing Frequency — Monthly or quarterly filing periods
  • Large Taxpayer — Designation for businesses meeting the Large Taxpayer threshold

TIN Format​

Your TIN should be entered as 9 digits without dashes or prefixes. The system will format it as ###-###-### for display.

VAT Threshold

Businesses with taxable supplies over $100,000 BSD annually must register for VAT with the Department of Inland Revenue.

VAT Registration​

If you're not yet registered:

  1. Apply at the Department of Inland Revenue
  2. Receive your VAT number
  3. Enter it in CoralLedger Comply at Settings > Business

Next Steps​