- The Bahamian Prime Minister presented the 2024-2025 mid-year budget statement.
- The statement includes measures to reduce the VAT rate on unprepared food to 5 percent from 10 percent starting April 1.
- This reduction applies to businesses primarily selling unprepared food, such as grocery and convenience stores, but not restaurants.
Source: news.bloombergtax.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.
