- Bahamas government proposes VAT reduction on unprepared food from 10% to 5%
- Amendment to VAT Act will take effect on April 1, 2025
- Reduction applies to grocery, convenience stores, and gas stations, but not restaurants
- Amendment also applies to importation of unprepared food
- List of food items attracting the 5% VAT rate will be included in the amended VAT Act
- Implementation date of April 1, 2025 allows merchants and food retailers time to adjust pricing structures
- VAT rate adjustment will not impact fiscal targets
Source: opm.gov.bs
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.
