The Bahamas Tax Reforms for Increased Buoyancy
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 gradu...
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Format: | eBook |
Language: | English |
Published: |
Washington, D.C.
International Monetary Fund
2014
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Series: | IMF Staff Country Reports
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Subjects: | |
Online Access: | |
Collection: | International Monetary Fund - Collection details see MPG.ReNa |
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 |
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Physical Description: | 73 pages |
ISBN: | 9781484377710 |