- VAT removed on unprepared food (rate cut to 0%) to reduce grocery costs for households, effective April 1, 2026. [opm.gov.bs]
- Previous VAT reduction from 12% to 10% as part of broader affordability measures already implemented by the Davis administration. [opm.gov.bs]
- VAT reduced on essential items, contributing to cost‑of‑living relief for Bahamian families. [opm.gov.bs]
Source gov.bs
- Prime Minister Philip Davis announced the complete removal of VAT on all grocery store food items, effective April 1, 2026, excluding hot or ready-to-eat meals.
- The policy aims to ease cost-of-living pressures and follows previous VAT reductions under Davis’s administration.
- Additional measures include expanded property tax concessions for owner-occupied duplexes and triplexes, and broader concessions for first-time homeowners.
- The government is also pursuing initiatives like energy reform, increased domestic food production, and new trade arrangements to further reduce living costs.
- Davis highlighted the country’s economic recovery, improved credit ratings, and significant private-sector investment since 2021.
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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