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Bahamas to increase VAT to 12% by July 1


The Commonwealth of the Bahamas 2018/19 Budget Communication implementing the Governments Policy Agenda and securing core fiscal objectives was presented to the House of Assembly in Nassau, New Providence by the Hon. K. Peter Turnquest, M.P. Deputy Prime Minister and Minister of Finance on Wednesday, 30th May 2018 2018/19 Budget Communication:

Specifically, we are increasing the taxation of gaming house activities through the introduction of a sliding scale of rates applied to taxable revenue, namely: up to $20 million, a rate of 20 per cent; between $20 million and $40 million, a rate of 25 per cent; between $40 million and $60 million, a rate of 30 per cent; between $60 million and $80 million, a rate of 35 per cent; between $80 million and $100 million, a rate of 40 per cent; and over $100 million, a rate of 50 per cent, said Deputy Prime Minister Turnquest...

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