SMALL business owners said the imposition of VAT on foreign-owned yacht charter fees had contributed tremendously to the industry’s decline in the past year.
The Department of Inland Revenue introduced a VAT rate of ten per cent last year that required foreign-flagged charter yachts to pay this rate on the value of their charter contracts.
Source: www.tribune242.com
Latest Posts in "Bahamas"
- Bahamas Introduces VAT Exemptions and Reduced Rates for Food and Essential Goods
- Retailers Urge Swift VAT Solution as Deadline Looms for Uncooked Food Tax Changes
- OECD: VAT on Digital Trade in the Caribbean: Insights from The Bahamas and Barbados
- Food Stores Warn of Compliance Nightmare Over New VAT Exempt Rules for Uncooked Foods
- Exemption of Unprepared Food and Reduced Rates on Essential Goods
