The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The government has announced the addition of five tax exemption and incentive applications to the menu of services available through its MyGateway.gov.bs online portal.

The Minnis administration, in a statement, said the five additions include customs duty exemptions and access to affordable serviced lots, which are described as part of its drive to support small and medium-sized businesses (SMEs) and individual first-time homeowners.

The list of newly-launched services includes several customs duty exemptions including the Affordable Homes exemption, which provides for duty-free importation and local purchases of selected items for first-time homeowners approved for a government serviced lot.

Others feature the Small and Medium-Sized Business (SME) exemption, which allows SMEs throughout The Bahamas to apply for, and obtain, duty-free exemptions on all items needed to start or expand a business.

The Family Island Development Encouragement Act (FIDEA) exemption provides for customs duty and VAT-free importation of selected items for residents of Acklins, Andros, Cat Island, Crooked Island, Inagua, Long Cay, Long Island, Mayaguana, Ragged Island and Rum Cay.

Then there is the Special Economic Recovery Zone exemption, which enables customs duty-free importation of a full range of materials needed to build or renovate a house, or to start or expand a business.

The government is presently seeking to incentivise young Bahamians to become homeowners with the introduction of its Prospect Ridge community for young professionals serviced lots, in a bid to offer accessible and affordable lots for persons in this category.

MyGateway.gov.bs is designed to make it easier for Bahamian citizens, 18 years and older and residing in The Bahamas, to access government services. The online platform is part of the five-year, $30m government digital transformation to strengthen competitiveness project, a major component of efforts to provide more efficient and public services, and create a path to sustainable economic development.

The addition of the five new services brings the total number available on MyGateway to 21. The government is aiming to offer 200 services online at the end of five years. The portal is designed as the centralised, secure way to request and pay for a range of online government services.