With the recent passage of the 2021/22 Budget, the Government of The Bahamas has provided qualifying criteria for:
To Apply:
Visit www.mygateway.gov.bs
Click on the services tab, then on Ministry of Finance
Click the APPLY NOW button of your desired concession
These guidelines will allow Small & Medium-sized businesses to apply for Duty-Free exemption on all items needed to start or expand their businesses. This includes first-time inventory for new and expansion of existing businesses in The Bahamas.
These guidelines will provide for Customs Duty-free importation and local purchases of selected items for the construction of a dwelling home for first-time homeowners approved for a Government service lot.
These guidelines will provide for Customs Duty and Value Added Tax-free importation applicable to any resident or prospective resident and business owner on the full range of materials they will need to build or renovate a house.
These guidelines apply to any resident or prospective resident and business owner on the full range of materials they will need to build or renovate a house or to start or expand a business.
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During the first nine months of the FY2021/22, the Bahamian economy signaled a strong rebound despite the emergence of the COVID-19 Omicron variant, the global supply chain shortages, and increased inflationary pressures resulting from the war in Ukraine. With the expiration of emergency orders in November 2021 and the subsequent full reopening of the Bahamian economy, macroeconomic indicators signaled a rebounding to pre-pandemic levels.
In keeping with the requirements of the Public Finance Management Act, 2021, the Ministry of Finance has released its first monthly fiscal report to the public reporting on the result of Government’s operations for the month of January 2022.
It is a special privilege to rise today, in this Honourable House, as the Minister of Finance to present the 2021/2022 Mid-Year Budget Statement and report on fiscal performance, the first such report under my Government’s administration.
This report, as required under the Public Financial Management Act, and the Fiscal Responsibility Act, is important in the good administration of our country’s finances.
During the first half of the 2021/22 fiscal year, the Bahamian economy continued to demonstrate strong signs of an economic rebound as compared to the same period in the prior year. This mirrors the rebound of global markets and is in spite of the emergence of the Omicron variant of the COVID-19 virus in The Bahamas during the second quarter. National elections in September 2021 resulted in a change of political administration and with it, a shift in Government policies and priorities: the passage of a supplementary budget with direct relief to residents in the form of pension increases …
The Debt Management Office (the “DMO”) of the Ministry of Finance is mandated under Section 61 of the Public Debt Management Act, 2021 (the “Act”), passed by Parliament in March and enacted in July, to prepare and publish public debt statistical bulletins (“PDSB”), no later than thirty calendar days after the end of each quarter of the fiscal year.
