Lowtax Network

Back To Top

Your Lowtax Account

Bahamas Confirms Tax Breaks For Hurricane Victims

by Mike Godfrey, Lowtax.net, Washington
15 October, 2015

The Bahamas Ministry of Finance has released a "Declaration of Exigency" to temporarily waive taxes on donated or replacement items for persons affected by Hurricane Joaquin.

The declaration is intended to respond to the "urgent need for [certain, prescribed] goods for the relief of residents in the Islands of Acklins, Cat Island, Crooked Island, Exuma, Inagua, Long Cay, Long Island, Mayaguana, Rum Cay, Ragged Island, Samana Cay, [and] San Salvador, who suffered hardship or loss as a result of Hurricane Joaquin," the declaration says, provided that claims for tax relief is approved by the Director of the National Emergency Management Agency.

The declaration provides that, for one month from October 3, landing fees, departure tax for non-commercial flights, and customs processing fees will be waived.

Further, the Government has said: "To clear goods duty and VAT free, importers will be required to complete a special form that can be obtained from all ports of entry. They will outline on the form a listing of the donated items, the amount, and the location of the intended recipient."

The items that will benefit from the concessions include building materials, electrical and plumbing fixtures, household furniture, generators, and motor vehicles.


See all of today's news


 

News Archive

Event Listings

Listings for the leading worldwide conferences and events in accounting, investment, banking and finance, transfer pricing, corporate taxation and more...
See Event Listings »