Just three and a half years after value-added tax (VAT) was introduced in The Bahamas at a rate of 7.5 percent, the government will raise the tax to 12 percent, Minister of Finance Peter Turnquest announced today.
The increase will come into effect on July 1.
The government will eliminate value-added tax (VAT) on all breadbasket items, with the exception of sugar, effective August 1, Minister of Finance Peter Turnquest announced in the House of Assembly today.
Turnquest said this would mean the elimination of VAT on butter, cooking oil, mayonnaise, grits, cheese,
Minister of State for the Public Service and National Insurance Brensil Rolle told Guardian Business yesterday that the National Insurance Board (NIB) is reviewing “all of its options” on the issue of increasing contributions. He insisted that “government has not at this time looked at a
The Bahamas Gaming Operators Association (BGOA) yesterday responded to statements made by an Organization for Responsible Governance (ORG) executive calling on government to levy more taxes on the gaming houses to relieve the pressure on taxpayers.
The BGOA stated in a press release that ORG Chairman
Grand Bahama Port Authority, Limited (GBPA) and the government have joined forces to market Grand Bahama as a competitive jurisdiction for industry, commercial shipping and technology.
A press release from the GBPA outlined remarks made by Minister of Financial Services, Trade, Industry and Immigration Brent Symonette
The Bahamas Light Industries Development Council (BLIDC) is demanding complete transparency from government when tariff rates are submitted to the World Trade Organization (WTO) for review and ratification, as BLIDC members are concerned WTO accession could mean infiltration by international manufacturers.
The BLIDC explained in a
The Bahamas Public Parks and Public Beaches Authority (BPPPBA) announced the distribution of over 300 reflective vests to workers this morning at the authority’s headquarters on Frederick Street.
Increasingly, one of the major hazards that road crews are facing every day is moving traffic in and
Executives of Sterling Global Financial met with Minister of Public Works Desmond Bannister and Director of Public Works Melanie Roach on May 8 to review draft master plans that will transform a 13-acre site on Paradise Island into a mixed-use tropical urban landscape with residential,
I’m quite sure, that we’ve all heard the phrase which is the title of this article over and over again as someone referred to another as being ‘Cool, Calm & Collected’. So what does it mean to be ‘Cool, Calm & Collected’? Well to me
The Bahamas continued its stellar play at the Americas Zone Group III Davis Cup round-robin tournament currently ongoing in Escazu, Costa Rica, shutting out Antigua and Barbuda in three matches yesterday.
In the first match of the day, Philip Major took down Shakir Elvin in straight sets,