WELCOME TAX RELIEF

We welcome the Prime Minister’s announcement on 8 January 2025 in his annual New Year’s address to the country of the tax relief on food.  The Value Added tax is to be removed on all food items as of 1 April 2025 by fifty per cent from ten per cent to five per cent. The prime minister also says that the government is investigating the monopolistic practices of the merchants in The Bahamas who have refused to pass on previous tax savings to the Bahamian consumers.  They have been utilizing  double invoicing,  fictional companies for distribution in  Florida and they own the shipping companies. They own the sea port here in Nassau. The result is monopolistic pricing.  The Prime Minister says the PLP is determined to get to the bottom of this.