EDITOR, The Tribune.
SO now we have 5% VAT on grocery items – effective April 1, 2025 in the 242. What does this means for me in the grocery store?
Whenever I go to a major supermarket in particular – the question for me is: How much items on my list can I get for the amount of money I have to spend? Hence, 5% VAT on grocery products instead of 10% - means that I could possibly strike off one more item on my shopping list if my budget is $100. Thus, if my budget is $200 – I might be able to add another two or three items in my trolley with confidence – on or anytime after April 1, 2025 – in The Bahamas.
I would only hope that this is just the beginning of more tax reductions to come – across the board, because God knows that Bahamians are crying out loud for tax relief. Be brave and give it to us mon.
DENNIS DAMES
Nassau,
January 9, 2025.
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