The Department of Inland Revenue (DIR) released instructions yesterday for its holiday on value-added tax (VAT), which runs from August 19 to September 10.

This comes after Free National Movement Shadow Minister for Finance Kwasi Thompson released a statement criticizing the government's tardiness in implementing the money saving scheme.

In his statement, Thompson cited high inflation as a critical reason to help Bahamians with this annual expense.

He released another statement yesterday insisting that the government must do more to help Bahamians through this inflationary period.

"Bahamians have seen their light bills double and triple and also face a second whammy when businesses have to increase their prices to allow them to meet higher energy costs," said Thompson.

"We again decry the failure of this Davis administration to follow our recommendations and the examples of other jurisdictions and actually implement coherent and sustained policies to reduce the effects of inflation on Bahamian families.

"The government can and should expand the existing electricity assistance program under social services.

"This program can be expanded to include more assistance and more people included on the program. The government must eliminate the VAT on the breadbasket and other essentials."

Thompson added that more resources to fight through this inflationary period need to be channeled to small businesses that are struggling with high electricity prices.

He suggested that the government use the Access Accelerator Small Business Development Centre to create programs to assist with electricity costs and inflation. He said these should come in the form of grants and loans.

"The PLP had last year pledged to provide $50 million in support to small businesses, but their reports suggest that not even ten percent of that sum was provided to small businesses," said Thompson.

"This is in sharp contrast to the tens of millions of dollars that the FNM made available to Bahamian entrepreneurs and small businesses during the last administration.

"The government can also intensify a public campaign for energy-saving measures in the home and business and can provide free audits for homes and buildings to identify efficiency measures.

"The PLP must own up to its mistakes with BPL, and the prime minister and his team must also come to the Bahamian people with a coherent and sustained set of policies that will bring actual and tangible relief to Bahamian households and businesses struggling with double-digit inflation on essentials."

The DIR's instructions on the VAT holiday include school supplies, hair accessories, personal computers and related accessories, clothing, footwear, bags and related items, and miscellaneous items that include printer ink, hand sanitizer, disinfectant wipes and sprays and face masks.

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