After meeting with medical professionals and getting crucial information, Minister of Economic Affairs Michael Halkitis yesterday confirmed the government will not implement the changes to the treatment of value-added tax (VAT) on health insurance on April 1.
The Bahamas Insurance Association (BIA) had charged that the Department of Inland Revenue (DIR) intends to move the entire VAT burden for those with health insurance to the pockets of consumers, warning that the VAT on medical services would no longer be covered under insurance claims once the government’s new policy takes effect.
Source: thenassauguardian.com
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