- The Value Added Tax (Amendment) Bill, 2023 is a proposed act to amend the Value Added Tax Act, 2014.
- It includes amendments to section 2 and section 5 of the principal act. The amendments to section 2 include new definitions for “Bahamian,” “foreign person,” and “large taxpayer,” as well as changes to the definition of “token.”
- The amendments to section 5 include changes to liability for VAT on vacation home rentals and services, and the collection of VAT.
- The act will come into force on July 1, 2023.
Source bahamas.gov
Latest Posts in "Bahamas"
- Exemption of Unprepared Food and Reduced Rates on Essential Goods
- Bahamas to Eliminate VAT on Unprepared Food Starting April 2026 to Ease Living Costs
- Bahamas to Remove VAT on Unprepared Food Starting April 1, Announces Prime Minister
- Zero VAT on Groceries to Continue if PLP Remains in Power, Says Economic Affairs Minister
- Bahamas to Eliminate VAT on Essential Groceries Including Fresh Produce and Baby Food
