October 25, 2021
SIMON WILSON
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‘Not punitive’: Just 3% of homes see tax hike
The Ministry of Finance’s top official yesterday asserted that just 3 percent of New Providence homeowners will suffer a real property tax hike this year, adding: “We chose not to be punitive.”
Gov’t targets property tax tripling to $400m
The Government is aiming to more-than-triple annual real property tax collections to at least $400m as a key component in its ambitions to achieve a 25 percent revenue-to-GDP ratio.
IMF to Bahamas: ‘Pre-empt’ on corporate income taxes
The Bahamas has been urged by the International Monetary Fund (IMF) to “pre-empt” global tax pressures by imposing a corporate income tax designed to suit its own purposes.
VAT reforms to cap ‘huge’ refund liability
The proposed VAT reforms are designed to cap “huge” multi-million dollar refund liabilities owed by the Government to two major transhipment providers, it was revealed yesterday.
Gov’t $90m ahead of revenue target
The Government beat its 2021-2022 first quarter revenue targets by $90m, a top official has revealed, while also disclosing that the Government’s revised Budget will not increase the deficit.
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