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Minister of Finance Peter Turnquest delivers the Budget Communication. Photo: Terrel W Carey/Tribune staff

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Finance bills are 'moving closer'

THE government’s bundle of public finance management bills has advanced even closer to the Minnis administration’s intended targets, as the Caribbean Regional Technical Assistance Centre (CARTAC) yesterday launched its introductory session on the dra

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Turnquest U-turn over property tax increases

THE government intends to revert to the previous definition of owner-occupied properties that was in effect up until June of this year, Finance Minister Peter Turnquest said yesterday.

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$2.5bn in VAT income – yet debt went up

THE government has collected some $2.5bn in value added tax revenue since 2015, according to Finance Minister Peter Turnquest who accused the former Christie administration of mismanaging the money.

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'We kept rise secret to avoid disruption'

DEPUTY Prime Minister and Minister of Finance Peter Turnquest said the government withheld its intention to increase value added tax until last week because it did not want to influence the consumer behaviour of Bahamians.People everywhere have lamen

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12% - now the backlash

BAHAMAS Institute of Chartered Accountants President Gowon Bowe believes the government’s plan to increase value added tax will create further distancing between the “haves and have-nots” and possibly create the conditions for class unrest, he told The Tribune.

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Ouch! Peter turns the screw on VAT

Finance Minister K. Peter Turnquest delivered a stunning blow to consumers and businesses yesterday with a shock increase in the rate of Value Added Tax to 12 percent.

Comments

OMG 5 months, 3 weeks ago

Maybe to offset this rise which was necessary in my opinion, legislate that gratuities in retaurants are voluntary and not mandatory. This 18% added to a bill whether the service is good or bad is wrong and as things stand will add 30% to a meal. By giving the customer control it will reduce the meal cost after tax and most customers will have the choice of tipping. It is blatantly unfair that the tip is a fixed percentage based upon how much you spend.

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