thebahamasweekly.com - Low Public Turnout at Bahamas VAT implementation meetings

From:TheBahamasWeekly.com

Bahamas Information Services Updates
Low Public Turnout at Bahamas VAT implementation meetings
Jul 25, 2013 - 3:44:28 PM

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).