Bahamas VAT rises to 12% Jul 2018

May 30, 2018 | Richard Asquith

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 the former VP Global Indirect Tax at Avalara