Compliance
CoralLedger Comply helps you maintain VAT compliance with real-time monitoring, real-time intelligence, and comprehensive dashboards.
Why Compliance Matters
Non-compliance with Bahamas VAT regulations can result in:
- Penalties - Up to 200% of unpaid VAT (Value Added Tax Act, 2014, s. 61)
- Interest - 5% monthly on late payments
- Audits - Increased scrutiny from DIR
- License Issues - Business license complications
Compliance Features
Real-Time Scoring
Your compliance score (A+ to F) is calculated from:
- Filing Compliance (30%)
- Data Quality (25%)
- Rate Accuracy (25%)
- Documentation (20%)
Intelligence Dashboard
Compliance analysis includes:
- Period-aware compliance grading
- Penalty risk assessment
- Data quality scoring
- Vendor intelligence
- Entropy analysis for data consistency
Anomaly Detection
Our system flags potential issues:
- Statistical outlier detection
- Unusual transaction patterns
- Category inconsistencies
- Duplicate transactions
2025 VAT Reform Dashboards
Dedicated dashboards for new regulations:
- Construction VAT - $1M threshold tracking
- Refund Eligibility - 50% zero-rated rule monitoring
- Bad Debt Relief - 12-month debt tracking
- Tax Savings - Recovery opportunity detection
Alerts
Receive notifications for:
- Upcoming filing deadlines
- Detected anomalies
- Score changes
- Penalty risk increases
Compliance Best Practices
- Import transactions weekly - Stay current with your data
- Review categories monthly - Ensure accuracy
- Check Intelligence Dashboard - Monitor AI insights
- Address alerts promptly - Don't let issues accumulate
- File on time - Within 21 days of period end (14 days for large taxpayers)
Filing Deadlines
VAT returns are due within 21 days after the end of the tax period. Large taxpayers (annual turnover ≥ $5M) must file within 14 days. The deadline is not a fixed calendar date — it varies depending on when the period ends.
| Period example | Period end | Standard deadline | Large taxpayer deadline |
|---|---|---|---|
| Q1 2026 | March 31 | April 21 | April 14 |
| Q2 2026 | June 30 | July 21 | July 14 |
| Q3 2026 | September 30 | October 21 | October 14 |
| Q4 2026 | December 31 | January 21 | January 14 |
| February (monthly) | February 28 | March 21 | March 14 |
| June (monthly) | June 30 | July 21 | July 14 |
The dashboard tracks upcoming deadlines across all your clients and highlights overdue returns.