Cover IMF Staff Country Reports
Buy Book in Print
The Bahamas: Tax Reforms for Increased Buoyancy
Author:
International Monetary Fund. Fiscal Affairs Dept.
Search for other papers by International Monetary Fund. Fiscal Affairs Dept. in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2014: Issue 017
Language:
English
Publication Date:
28 Jan 2014
DOI:
https://doi.org/10.5089/9781484377710.002
ISBN:
9781484377710
ISSN:
1934-7685
Pages:
73
Keywords:
ISCR; CR; excise tax; customs duty; tax burden; income tax; tax expenditure; transfer tax; land tax; Value-added tax; Property tax; Excises; Tax incentives; Africa; Central America; Global
Download PDF (1.2 MB) Download Epub
This paper focuses on tax reforms for increased buoyancy in The Bahamas. The Bahamas has a low tax effort owing to limited tax handles and underutilization of available ones. Real property tax collections as percent of GDP have doubled within a decade. In addition to the real property taxes, a graduated stamp duty on the conveyance of immovable property is imposed at fairly steep rates. As a requirement to World Trade Organization membership, the tariff rates will be lowered from their current levels. It is expected that revenue losses from tariff reduction will be compensated by value-added tax revenues.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund