- Bahamian Prime Minister announced 50% reduction in VAT rate
- VAT rate reduced to 5% from 10% on all food items in food stores
- Reduction includes fresh fruits, vegetables, baby food, lunch snacks, and frozen foods
- Excludes prepared foods in the deli
- Effective April 1
- Reduced rate also applies to importation of specified items
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.
