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Vat Tax

tireboy
Level Contributor
402 posts
Vat Tax

Unfortunately the Bahamas government has just announced that it is raising the VAT tax on goods and services from 7.5% to 12% come this July. While it is also completely removing VAT tax on some breadbasket items and on electric and water bills that are below a certain threshold most things and services are about to get much more expensive....restaurants, liquor stores, building supplies to name a few.

24 replies to this topic
Windsor, Canada
Destination Expert
for Eleuthera
Level Contributor
2,215 posts
1. Re: Vat Tax

Are duties decreasing?

Charleston, South...
Level Contributor
2,821 posts
23 reviews
2. Re: Vat Tax

Ouch. Gonna be brutal on the locals, but not exactly a walk in the park for tourists or expats, either.

tireboy
Level Contributor
402 posts
3. Re: Vat Tax

Don’t know if duties are decreasing but the duty-exemption for returning residents is going up from $300 to$500 twice a year.

Charleston, South...
Level Contributor
2,821 posts
23 reviews
4. Re: Vat Tax

A promise of duty rollbacks someday in the future, but no sooner than 3 years, after the budget crisis is over. Link to nebulous statement below. But you are free to start holding your breath whenever you choose as there is no tax on air ... yet.

https://www.thehulltruth.com/florida-georgia…

5. Re: Vat Tax

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Flatlander
Level Contributor
56 posts
6. Re: Vat Tax

Of Interest to some perhaps.

"we are extending for one year both the City of Nassau Revitalization Act and the Family Island Development Encouragement Act"

"we are eliminating duties on solar kits upon application to the Ministry of Finance. Presently solar panels are duty free, and this new allowance will mean that vendors or individuals who are bringing in full solar kits can have all related elements brought in duty

free"

savannah sound
Level Contributor
3,159 posts
7. Re: Vat Tax

For sale …

… one cave, goats included … CHEAP … well, ok, not so cheap

South Pomfret...
1 post
8. Re: Vat Tax

Just curious. I know it’s not Bahamian like, but is anybody questioning who’s accountable for where this income stream is going? Seems like a huge amount of revenue was being raised at the old rate, and that didn’t make any impact on the debt? Huh, wonder where it went? This also seems fairly short sighted , given the impact it’s likely to have on tourism= jobs.

tireboy
Level Contributor
402 posts
9. Re: Vat Tax

Pipermika....lolololololololol!!!!!

Curtice, Ohio
Level Contributor
111 posts
10. Re: Vat Tax

DH, Is the cave listed? I'm assuming the vat tax will also increase on home sales and legal fees associated with it.

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