- IMF recommends increasing value-added tax, raising water rates for heavy users, and collecting patient fees at the Public Hospitals Authority
- Davis administration has no plans to increase VAT
- IMF suggests other options such as replacing business license fees with a profits tax, introducing a personal income tax for top earners, and removing the ceiling on property tax
- IMF praises The Bahamas for recovery from Hurricane Dorian and COVID-19 pandemic
- Challenges include income per capita divergence from the US, expensive electricity, shortage of skilled labor, and obstacles to business formation
- IMF flags high government debt levels, vulnerability to natural disasters, and rising sea levels
- Risks for the country are balanced, with upside risks from infrastructure and hotel construction projects and downsides from public debt rollover needs and natural disasters
- Fiscal deficit dropped to 1.3 percent of GDP in fiscal year 2024
Source: tribune242.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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