The Bahamas: Tax Reforms for Increased Buoyancy

Publication Date: January 28, 2014

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Summary: This paper focuses on tax reforms for increased buoyancy in The Bahamas. The Bahamas has a low tax effort owing to limited tax handles and underutilization of available ones. Real property tax collections as percent of GDP have doubled within a decade. In addition to the real property taxes, a graduated stamp duty on the conveyance of immovable property is imposed at fairly steep rates. As a requirement to World Trade Organization membership, the tariff rates will be lowered from their current levels. It is expected that revenue losses from tariff reduction will be compensated by value-added tax revenues.
Series: IMF Staff Country Reports
Subject(s): Tax reforms | Taxation | Value added tax | Excise taxes | Stamp duties | Tax policy | Tax administration | Technical Assistance | Bahamas, The

Publication Date: January 28, 2014
ISBN/ISSN: 9781484377710/1934-7685 Format: Paper
Stock No: 1BHSEA2014001 Pages: 73
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