- Bahamian businesses criticize IMF for suggesting further revenue measures, including possible VAT hike
- Businesses argue that new or increased taxes should be off the table due to high cost of living and inflation
- Prime Minister rules out following IMF’s suggestion of increasing VAT rate
- Businesses believe IMF is out of touch and that more taxes will not lead to prosperity
- Concerns raised about IMF recommendations not aligning with on-ground realities and pressures faced by citizens
- Businesses urge government to be creative and not rely solely on taxes for revenue
- Calls for present taxation framework to remain undisturbed with no increases or additions
- No room for any VAT increase according to Small Business Association and Resource Centre’s founder
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.
