Search results for : VAT
January 22, 2015
Businesses with TINs only cannot charge VAT, notes VAT Dept.
Days after the government warned about some gas stations charging value-added tax (VAT) on VAT-inclusive gas prices, the VAT Department is again sounding a warning: Consumers should not be paying VAT to businesses registered for tax identification numbers (TINs) only.
April 28, 2014
New Zealand VAT experts: VAT preferable to payroll tax
International evidence suggests payroll tax would have a worse impact on growth and employment in the country than a value-added tax (VAT), according to two New Zealander VAT specialists.
Don Brash, a prominent businessman in New Zealand, who was intimately involved in the introduction of VAT there in 1986, said that he was persuaded in the mid-1980s and remains so today, that VAT is the "least ba...
VAT delay may be in order, accountant says
November 06, 2014
VAT delay may be in order, accountant says
The government might need to consider an extension of the value-added tax (VAT) registration deadline, according to an official from a leading local accounting firm.
Managing Director of KRYS Global Edmund Rahming Jr. told Guardian Business that he anticipates the government would have to "accommodate" some businesses that fail to register before the November 30th deadline.
Despite the looming dea...
November 06, 2014
VAT task force pushes family island businesses to register
With three weeks left to register before businesses become noncompliant, and thus liable to government prosecution, the Value-Added Tax (VAT) Education Task Force has launched a "very aggressive" last push education and registration drive among family island businesses.
Edison Sumner, task force co-chair, told Guardian Business that the group continued to send teams to various Family Islands each ...
CRIPPLING: Bahamas yacht charters hit with 40 percent year-over-year decline, US operator says VAT is the cause
January 29, 2024
CRIPPLING: Bahamas yacht charters hit with 40 percent year-over-year decline, US operator says VAT is the cause
NASSAU, BAHAMAS — Yacht charters to The Bahamas have experienced a 40-percent decline year-over-year, a US yacht charter operator has estimated, arguing that the 10 percent Value-Added Tax (VAT) imposed on foreign-owned yacht charter contracts is crippling their operations. "Yachts bring visitors to all the islands around the Bahamas where tourism is not readily accessible [...]
AML Foods to "vigorously contest" Department of Inland Revenue's nearly $1 million VAT assessment
December 18, 2023
AML Foods to "vigorously contest" Department of Inland Revenue's nearly $1 million VAT assessment
NASSAU, BAHAMAS- AML Foods says that it plans to "vigorously contest" a nearly $1 million assessment by the Department of Inland Revenue (DIR) related to outstanding Value-Added Tax (VAT) for items sold VAT-free in Grand Bahama under the Special Economic Recovery Zone (SERZ) order. The BISX-listed company in its second-quarter report for the period ending [...]
Yacht Brokers Association says VAT on yacht charters is driving business to other destinations
December 08, 2023
Yacht Brokers Association says VAT on yacht charters is driving business to other destinations
NASSAU, BAHAMAS — The Bahamas Yacht Brokers Association (BYBA) is urging the government to address the impact of its Value Added Tax (VAT) policy on the yacht charter industry, arguing that based on its research, the tax on yacht charters is driving away a large percentage of international yacht business to other more affordable destinations. [...]
Surinamese Teachers Protest Over VAT
November 10, 2023
Surinamese Teachers Protest Over VAT
SURINAME - The federation of Organization of Teachers in Suriname is urging members to stay away from their classes over the next two days in protest of government's unwillingness to reconsider the value-added tax, particularly for fuel and utilities.
November 06, 2023
Opposition urges government to remove VAT from essential healthy foods
NASSAU, BAHAMAS- The Opposition is urging the government to take definitive action to combat high food prices and the inflation crisis by removing the Value-Added tax (VAT) from essential healthy foods. Shadow Finance Minister Kwasi Thompson in a statement noted that the Central Bank's latest report has confirmed that the country is still in an [...]
Anglican Bishop: VAT Is An Unfair Tax
October 18, 2023
Anglican Bishop: VAT Is An Unfair Tax
NASSAU, BAHAMAS - Value added tax is an unfair tax, That's according to Anglican Bishop of The Bahamas and Turks and Caicos Islands, Rev Laish Boyd, who shared that while VAT is a burden for everyone, those less fortunate feel it the most.
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