Prime Minister the Most Hon. Dr. Hubert Minnis announced today a new VAT Relief Policy for Abaco and the Cays and Grand Bahama until June 2020, as part of the Government’s effort to stimulate the economies of areas affected by Hurricane Dorian.
The Prime Minister made the announcement at a Town Hall Meeting in Green Turtle Cay on Wednesday 30 October.
The new VAT Relief Policy means that individuals and businesses will be exempt from the payment of Value Added Tax on a range of items, including unprepared food of all types, water, fruit and vegetable juice, clothes, shoes, hats, belts, stockings, gloves, scarves, cleaning supplies, beds and bedding material, hardware supplies building materials, landscaping supplies, pest control supplies, electrical fixtures and materials, electrical generators, farming equipment and supplies, fishing equipment and supplies, manufacturing equipment, cots, protective and safety gear, household furniture, furnishings and appliances, solar panels, mosquito netting, plumbing fixtures and materials, office supplies and equipment, tents, air-conditioning units and other equipment.
VAT on fuel for generators in areas still without electricity will also be VAT-free.
Details and start date will be announced.
Representatives of the Department of Inland Revenue and Bahamas Customs were present to explain the Government’s One-Stop-Shop and answer residents’ questions.
The Prime Minister also announced plans to establish The Bahamas National Recovery and Reconstruction Trust Fund, an independent non-political body to help fund home and building repairs. The Fund is included in the Disaster Reconstruction Authority Bill 2019 tabled in the House of Assembly on Tuesday 29 October.
“We want your economy to get going as quickly as possible. We want to get you back into your homes as soon as possible,” the Prime Minister told residents.
The Prime Minister also held a Town Hall meeting in Guana Cay on Wednesday and will hold Town Halls in Man-O-War Cay and Elbow Cay on Friday 1 November to hear residents’ concerns and provide an update on the progress of reconstruction efforts.
Also attending the Town Halls were Minister of State in the Ministry of Disaster Preparedness, Management and Reconstruction, the Hon. Iram Lewis; Minister of Foreign Affairs and North Abaco MP, the Hon. Darren Henfield; and the Hon. James Albury, Parliamentary Secretary in the Office of the Prime Minister (Abaco), and Central and South Abaco MP.
