May 31, 2018
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Property tax and immigration fees up
THE Minnis administration’s VAT grabbed the spotlight yesterday but Deputy Prime Minister and Minister of Finance Peter Turnquest also announced select increases to real property taxes and immigration fees.Real property tax on foreign-owned vacant la
Charities to benefit from budget move
ONE of the tax relief measures announced by Deputy Prime Minister K Peter Turnquest yesterday will have a direct impact on charities. Mr Turnquest promised that the government will “provide tax relief to individuals and businesses” as he announced a
Web shop patrons to pay stamp tax
WEB shop patrons will have to pay five percent stamp tax on in-store deposits to accounts and any digital online sales, effective July 1, 2018.Although not implicitly stated in yesterday’s budget presentation, it is presumed this tax will be applied
Move to digital seeks to make govt more efficient
THE government will be undergoing a “digital transformation” to strengthen the country’s competitiveness, Deputy Prime Minister K Peter Turnquest said yesterday.Known as the “Digital Bahamas Initiative”, the project will be financed in part by a $500
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