Bimini Sands really is the "place" to be!
Bimini Sands HomeOwner - Resort Host Pew Environment's Shark Summit
Directly from the Bimini Sands Resort and Marina page:
The Bimini Sands Resort and Marina was proud to host Pew Environment's Shark Summit meeting with dignitaries from throughout the Caribbean and special guest speaker Sir Richard Branson. We are proud to do our part to help protect and promote Shark Sanctuaries, not only in the Bahamas, but around the world.
Bimini Sands really is the "place" to be!
Bimini Sands really is the "place" to be!
Bimini Sands HomeOwner - What is VAT?
Bimini Sands HomeOwner - What is VAT?
As a homeowner or frequent visitor to the Bahamas, you will now be asked to pay VAT on many goods and services. VAT stands for "value added tax" and while it is new to the Bahamas (as of January 1, 2015) it is something that is used in over 160 countries worldwide ... in Hungary the VAT is a whopping 27%! The VAT rate in the Bahamas is set at 7.5%.
Value Added Tax (VAT) is a broad based consumption tax that is applied to most goods and services bought locally or imported into the country or a consumption tax charged on goods and services.
Why VAT?
(This comes directly from the government page)
VAT in The Bahamas is therefore being introduced against the backdrop of:
The Hotel Accommodation Tax will be replaced entirely by VAT. This is good news ... in the past travelers have been charged an additional 10% on their hotel rooms.
As a homeowner or frequent visitor to the Bahamas, you will now be asked to pay VAT on many goods and services. VAT stands for "value added tax" and while it is new to the Bahamas (as of January 1, 2015) it is something that is used in over 160 countries worldwide ... in Hungary the VAT is a whopping 27%! The VAT rate in the Bahamas is set at 7.5%.
Value Added Tax (VAT) is a broad based consumption tax that is applied to most goods and services bought locally or imported into the country or a consumption tax charged on goods and services.
Why VAT?
(This comes directly from the government page)
Since the coming on stream of the Free Trade Area of the Americas (FTAA) and The Bahamas’ impending accession to the WTO, the Government can no longer look towards the Customs Division to contribute the same share of revenues that it presently brings in. Reform is therefore needed to strengthen tax administration and ensure that there is no significant loss in revenue.
VAT in The Bahamas is therefore being introduced against the backdrop of:
- Government’s desire to undertake a programme of Tax Reform for the administration of its tax and non-tax revenue collections
Broadening the tax base and making it more equitable by including both goods and services.
Bolstering revenue collections to meet the increasing demands to provide efficient public services to its citizens and meet other financial demands of the Government
The Hotel Accommodation Tax will be replaced entirely by VAT. This is good news ... in the past travelers have been charged an additional 10% on their hotel rooms.
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