Financial Secretary John Rolle Addresses Kiwanians on VAT

Posted on: January 14, 2014

Authored by: Ministry of Finance
Source: Ministry of Finance
Date: January 14, 2014

Past President Antonio Knowles welcomes Financial Secretary John Rolle to the Kiwanis Club of Nassau A.M. meeting which actually meets in the evening as it did Monday to learn more about pending tax reform including Value Added Tax. The Ministry of Finance is ramping up presentations as it continues to listen to the public.  (Photo by Derek Smith, Jr)

In a continuing effort to communicate the benefits of Value Added Tax (VAT) in The Bahamas, Financial Secretary John Rolle addressed the Kiwanis Club of Nassau A.M. at its weekly meeting January 13.

“A modernized taxation system is essential in the developing Bahamas,” Mr. Rolle told about 20 Kiwanians gathered at the Bahamas Red Cross Society headquarters. “VAT encourages creativity and competition that will ultimately benefit customers. Additionally, it broadens the revenue source, which at present, only encompasses goods but will include services going forward.”

The Ministry of Finance has scheduled a number of speaking engagements to educate and update the public on the pending legislation. The Ministry of Finance is in the process of meeting with various groups and gathering information. This week, it announced the launch of a VAT hotline, inviting the public to register comments as well as seek answers about tax reform. The toll-free number is 225-7280.



All News

Real Property Tax Notice of Assessment 2020

In accordance with the Real Property Tax Act, Chapter 375 as amended, the Chief Valuation Officer has hereby given the 2020 RPT Notice Click the link below to see the Real Property Tax Notice 2020. https://inlandrevenue.finance.gov.bs/wp-content/uploads/2019/10/RPT-Notice-2020.pdf  

Advisory Regarding VAT Payments on Insurance Claims

Department of Inland Revenue’s Advisory regarding VAT Payments on Insurance Claims The Department of Inland Revenue advises the general public that VAT is not charged on insurance claims. Click link below for full press release Press Release – VAT on Insurance

VAT Filing Extension & Business Licence Suspension (Abaco & Grand Bahama)

In the aftermath of Hurricane Dorian, The Department of Inland Revenue wishes to advise all VAT registrants operating businesses on Abaco, the Abaco Cays and/or Grand Bahama that the filing of VAT returns due September 21, 2019 and October 21, 2019 have now been extended until November 30, 2019; for businesses requiring an extension. Click the link below for full…

New Year to bring several ‘ease of doing business’ reforms for starting a new business

The Ministry of Finance will roll out a provisional business license in the New Year to significantly reduce the time it takes to start a new business. This addition was approved by Parliament during the 2018/2019 budget exercise, and will be implemented by the Department of Inland Revenue in the first quarter of 2019. Click…

Inland Revenue Open on Saturdays in January

The Department of Inland Revenue is opening its Client Services Centre on Saturdays for the month of January to support businesses applying for business licence renewals. Click the link below for the full Press Release Press Release – Inland Revenue open on Saturdays in January