The Bahamas: Tax Reforms for Increased Buoyancy
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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:
Country Report No. 2014/017
Subject:
Excises Property tax Revenue administration Tax incentives Taxes Value-added tax
English
Publication Date:
January 28, 2014
ISBN/ISSN:
9781484377710/1934-7685
Stock No:
1BHSEA2014001
Pages:
73
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