RYAN Pinder, Financial Services Minister, shared his insight on the proposed benefits of Value Added Tax (VAT) with students of the Revenue Law Class of the University of West Indies LLB programme and Eugene Dupuch Law School.
As a former tax lawyer in the United States, Mr Pinder discussed with the students and faculty present the general principles of taxation, development of tax policy and the need for tax reform in the Bahamas.
Mr Pinder said that tax reform is a “necessary endeavour” for the Bahamas, as it is necessary to reverse the trend of fiscal unsustainability that the country currently faces.
“We operate under a tax system that has not evolved to reflect the state of the international economic environment, nor have we reformed our tax system to position the country for global economic expansion, such as participating effectively in international trade. Tax reform is not easy, but tax reform is necessary,” he said.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment
Or login with:
OpenID