IMF Staff Country Reports

The Bahamas: Tax Reforms for Increased Buoyancy

January 28, 2014

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The Bahamas: Tax Reforms for Increased Buoyancy, (USA: International Monetary Fund, 2014) accessed December 12, 2024

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.

Subject: Excises, Property tax, Revenue administration, Tax incentives, Taxes, Value-added tax

Keywords: Africa, Central America, CR, Customs duty, Excise tax, Excises, Global, Income tax, ISCR, Land tax, Property tax, Tax burden, Tax expenditure, Tax incentives, Transfer tax, Value-added tax

Publication Details

  • Pages:

    73

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2014/017

  • Stock No:

    1BHSEA2014001

  • ISBN:

    9781484377710

  • ISSN:

    1934-7685