Bahamas Prime Minister Presents 2024-2025 Mid-Year Budget Statement

The Bahamian Prime Minister Feb. 26 presented to the House of Assembly the 2024-2025 mid-year budget statement. The statement describes measures to: 1) introduce new pension legislation; 2) introduce the One Tax Bahamas Portal, an online platform of the Department of Inland Revenue to improve efficiency in tax payments by businesses and individuals; 3) implement a property tax relief program for individuals and families in financial hardship; 4) enhance compliance with VAT stamp tax and monitor real estate transactions for tax compliance; 5) introduce the Business Development Incentives Program Bill to provide incentives to reduce the cost of doing business ...