Search results for : VAT
PM projects 652M in VAT for 2016/2017
May 26, 2016
PM projects 652M in VAT for 2016/2017
Prime Minister Perry Christie reported on the administration of value added tax (VAT) during his budget address in the House of Assembly yesterday, citing high levels of compliance with the tax and strong administrative performance.
April 11, 2016
VAT helps drive inflation higher, helps cover 120M spending hike
The Central Bank of The Bahamas (CBOB) has reported that the imposition of value-added tax (VAT) on January 1, 2015 helped drive inflation last year up to 1.88 percent, as prices across a broad spectrum of items rose significantly over the year.
September 08, 2015
Department of Inland Revenue Advises of VAT Free Shopping Rules
The Department of Inland Revenue reminds business owners that are eligible for the VAT Free Tourist shopping scheme that there are several goods that are not part of the scheme...
Smith welcomes VAT, concerned about debt reduction
March 07, 2016
Smith welcomes VAT, concerned about debt reduction
Former governor of The Central Bank of The Bahamas James Smith said while the implementation of value-added tax (VAT) has made a positive impact - and contributed to why Moody's maintained its Baa2/Stable credit rating despite controversy over Baha Mar during the past year - the rate of decrease of the national debt is not as fast as one would have expected following the implementation of VAT.
VAT collection exceeding expectations
March 08, 2016
VAT collection exceeding expectations
Value-added tax (VAT) revenue is no different from any other source of government revenue and is not earmarked for any specific purpose, Prime Minister Perry Christie said during his mid-year budget communication in the House of Assembly yesterday.
February 24, 2016
SMEs had 'enough time to adjust'on quarterly VAT filing
Minister of State for Finance Michael Halkitis said that small and medium-sized enterprises (SMEs) had sufficient time to adjust to filing changes related to the value-added tax (VAT).
February 09, 2016
Suriname delegates visiting Bahamas on fact-finding mission on VAT implementation
Officials from the Department of Inland Revenue welcomed four delegates from Suriname, who are in The Bahamas this week, on a fact finding mission on The Bahamas? implementation of Value Added Tax (VAT).
Suriname delegation to study Bahamas VAT rollout
February 07, 2016
Suriname delegation to study Bahamas VAT rollout
A delegation from Suriname will be in The Bahamas beginning today to study The Bahamas' implementation of value-added tax (VAT) from the drafting of the legislation to the conduct of the consultation and the rollout of the wildly successful tax.
VAT spending to be revealed during budget: Halkitis
February 05, 2016
VAT spending to be revealed during budget: Halkitis
Amid questions regarding the government's use of the revenue derived from value-added tax (VAT), Minister of State for Finance Michael Halkitis said the government will give a full accounting of how much money was collected from VAT during the national budget communication in May.
First year of VAT to bring in 250m over estimate
January 19, 2016
First year of VAT to bring in 250m over estimate
THE government has collected approximately $510m in value added tax revenue from January to November 2015, according to Minister of State for Finance Michael Halkitis.
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