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Bahamas VAT rises to 12% Jul 2018

  • VAT
  • 31 May 2018 | Richard Asquith

Bahamas VAT rises to 12% Jul 2018

The Bahamas is to raise its Value Added Tax rate from 7% to 12% on 1 July 2018.

The country’s Minister for Finance, Peter Turnquest, announced the rise to help meet a projected budget deficit this year. Some basic foodstuffs will become zero-rated to help soften the effects of the rise.

VAT was introduced in the Bahamas in January 2015.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.