Bahamas MOF Presents 2026-2027 Annual Budget Statement

The Bahamian Ministry of Finance May 27 presented to the Parliament the 2026-2027 annual budget statement. The statement includes proposed measures to: 1) expand zero-rated VAT treatment for first-time home buyers to multi-unit properties where at least one unit is owner-occupied; 2) reduce, to zero percent from 45 percent, the tariff tax on chair lifts for elderly and disabled people; 3) subject nonresident-owned properties to a 0.625 percent tax rate, capped at 200,000 Bahamian dollars (US$200,000), with application based on whether the property is used as a residence, instead of the 180-day test; 4) increase, to 600,000 dollars (US$600,000) from ...