Bahamas Providing 50% VAT Rate Reduction for Foods

The Bahamas Office of the Prime Minister has published a National Address from Prime Minister Philip Davis, which was delivered on 8 January 2025. Among other things, the address covers certain tax and VAT matters. This includes that, from 1 April 2025, the VAT rate will be reduced from 10% to 5% on food sold in the food stores, including fresh fruits and vegetables, baby food, lunch snacks, and frozen foods. The reduced rate will also apply to imports of covered foods. However, the reduced …