Returning Savings to the Pockets of the Most Vulnerable
The purpose of the Government’s tax relief measures is to cushion the impact of tax reform on the poorest households by reducing the cost of commonly purchased consumers goods. In particular, the Budget makes provision for three main initiatives.
What items are VAT-Free for consumers?
After a period of public education, the government plans to reshape the breakbasket to include more healthy options, and lower the cost of adopting a more holistic lifestyle. The Ministry of Health is currently engaged in an active consultative process intended to sensitize Bahamians about healthy food choices.
The budget website is inspired by a worldwide movement towards citizens budgets. Presented by the Ministry of Finance, it is a visual, interactive and less-technical version of the annual budget that promotes accessibility, inclusion, transparency and accountability.