Dr Lifttruck, it is in USD, (or Bahamian Dollars that are 1 to 1 with US dollars, and US Dollars are accepted everywhere) and there is no income tax.
The 'catch' is that everything is imported into the country, and there is about a 48% customs duty on just about EVERYTHING.
Not to mention that as a USian, you need to have a Bahamian "sponsor" work with you, and have a work permit that has to be renewed at least annually, where your sponsor's company swears that no one from the Bahama's can do the work.