Bahamas, I told you this. Financial Secretary John Rolle is now in today’s paper confirming it – the 7.5% VAT rate coming on in January will go up not long afterward. So not only was that 7.5% rate just something to pacify Bahamians while they change the VAT Bill to make you pay VAT on items and areas they first told you wouldn’t attract VAT, the rate is going TO BE INCREASED anyway. The government used the “delay and decrease” carrot to make Bahamians believe they were backing off from something on VAT. Instead, they are doing exactly what they promised the IMF (International Monetary Fund) and what the IMF said they wanted from the start – VAT CHARGED ON ALMOST EVERYTHING, and at the high rate they want. WINNER – THE IMF. LOSER – THE BAHAMIAN PEOPLE & THEIR LIVELIHOODS.
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