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 November 21, 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:

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DOI:

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Issue:

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Series:

Country Report No. 2014/017
Stock No:

1BHSEA2014001
ISBN:

9781484377710
ISSN:

1934-7685

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