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.