VAT is added to BEC bills

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July 24, 2014

 

THE government tabled the anticipated value added tax (VAT) bill in the House of Assembly yesterday while releasing a list of proposed changes to tariff and excise duty rates and disclosing a “pared down” list of VAT exempt services that does not include electricity.
Beginning January 1, 2015, proposed decreases in duty rates for numerous items will come into effect. Items like watches, suitcases and articles of jewellery will be duty free while various items ranging from food to clothing items would see duty reductions ranging from five to 25 per cent...

THE government tabled the anticipated value added tax (VAT) bill in the House of Assembly yesterday while releasing a list of proposed changes to tariff and excise duty rates and disclosing a “pared down” list of VAT exempt services that does not include electricity.

Beginning January 1, 2015, proposed decreases in duty rates for numerous items will come into effect. Items like watches, suitcases and articles of jewellery will be duty free while various items ranging from food to clothing items would see duty reductions ranging from five to 25 per cent...

 

Click here to read more at The Tribune

News date : 07/24/2014    Category : About Bahamians, Finance, Politics, Tribune Stories

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