With Financial Secretary John Rolle confirming that the VAT rate will increase “in the not too distant future”, it appears the implementation of VAT at 7.5% was only the thin end of the wedge so to speak.
Author Archives: Nassau Institute
Mr. Ishmael Lightbourn, consultant to the Ministry of Finance in an ad hominem attack on the Nassau Institute describes the research report “Consequences of the Value Added Tax for Bahamas” as being “extreme, ridiculous, exaggerated and inaccurate, and is being read because it “bashes” the government”.
The Bahamian tax payer is surely entitled to know what to expect and how he will be affected by the new tax policy.
Bahamas ranks 39th out of 152 nations and territories included in the Economic Freedom of the World: 2013 Annual Report, released today by The Nassau Institute.
The fact is, Bahamians have prospered as a result of an open economy and the importation of foreign workers, even entry level staff.
Over the past couple decades successive agriculture ministers have either imposed or threatened bans on food imports as a way of supporting Bahamian farmers.