Bahamas Bahamas VAT rises to 12% Jul 2018 31 May 201854 views1 min read Source: VATlive VAT rate increase from 7.5% to 12%, effective 1 July 2018 and other VAT-related changes (breadbasket, medicines, residential property insurance, residential electricity, water, fundraising, etc.) VAT will be eliminated on breadbasket items, a “commitment to Bahamians”.