Nassau, The Bahamas -- Low public
turnout to Learn about the new Value Added Tax (VAT) implementation
has prompted the Ministry of Finance to invite the media houses, talk
show hosts, and college students to participate in one-on-one dialogue
about the impact of VAT.
On July 23, Financial Secretary John
Rolle held a VAT presentation in the College of The Bahamas' Harry C.
Moore Library Auditorium.
Mr Rolle introduced the role of Government
and its relationship to the business community in the process of collecting
taxes from consumers and paying the collections back to the Government
in credit installments.
Mr Rolle also explained the introduction
of new legislation for the VAT to be introduced later this year and
the possibility of competition and anti-trust legislation being added
to VAT in relation to URCA's responsibilities.
In addition, Cleveland Eneas, a radio
show host and participant, explained the need for Government to provide
small scale accounting services for small business owners who need assistance
in keeping their finances straight.
PHOTO: Financial Secretary John Rolle explains
VAT implementation on July 23, 2013 in the auditorium of the Harry C.
Moore Library. (BIS Photo / Gena Gibbs).