Bahamas: New Vat Policy To Aid Abaco & Grand Bahama
PRIME Minister Dr Hubert Minnis announced a new VAT policy for Abaco and Grand Bahama yesterday to assist with rebuilding efforts.
#He was speaking at a town hall meeting on Green Turtle Cay where he also discussed plans to establish the Bahamas National Recovery and Reconstruction Trust Fund, which will be an independent non-political body to help fund home and building repairs. The development of the fund is included in the recently tabled Disaster Reconstruction Authority Bill.
#The Office of the Prime Minister said the new VAT relief policy will exempt individuals and businesses from paying VAT on a range of items, including “unprepared food of all types, water, fruit and vegetable juice, clothes, shoes, hats, belts, stockings, gloves, scarves, cleaning supplies, beds and bedding material, hardware supplies, building supplies, landscaping supplies, pest control supplies, electrical fixtures and materials, electrical generators, farming equipment and supplies, fishing equipment and supplies, manufacturing equipment, cots, protective and safety gear, household furniture, furnishings and appliances, solar panels, mosquito netting, plumbing fixtures and materials, office supplies and equipment, tents, air-conditioning units and other equipment”.
#The OPM said VAT on fuel for generators in areas without electricity will also be VAT free. An official said additional details will be announced. The new VAT policy will be in effect until June 2020.