vat

Bahamas Planning to Introduce 7.5 Percent Value Added Tax in 2015

The Bahamas is planning to introduce a new 7.5 percent value added tax, the government announced this week. The tax will be a single VAT rate across the board, although that is lower than an initially proposed 15 percent tax. The country’s Ministry of Finance said the lower rate would also mean fewer exemptions. The ultimate plan is for the…