Bahamas PM Outlines Measures To Improve Tax Admin
by Mike Godfrey, Lowtax.net, New York
21 January, 2014
The prime minister of The Bahamas, Perry Christie, has said that his government plans to expand the country's tax base and bolster tax administration in order to boost revenue.
During the 23rd annual Bahamas Business Outlook on January 13, 2013 the prime minister delivered an address entitled "Charting The Course For Growth In 2014" in which he noted that the government aims to increase revenue collection by at least USD100m.
In order to achieve this additional revenue Mr Christie said it is essential to strengthen existing revenue administration. As an example he stated that his government has begun modernizing real property tax administration in order to "eliminate disparities in property tax bills and permit more orderly year-on-year adjustment in real property tax assessments."
Mr Christie went on to say that the government will work to introduce and, where necessary, strengthen protocols on monitoring and enforcing tax collection and facilitating information exchange between public agencies.
He also mentioned that proposed reforms to the value-added tax regime will be made in line with "detailed and comprehensive" impact analysis by the International Monetary Fund (IMF) and the Inter American Development Bank (IDB).
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