ABM Addresses Potential Negative Impacts of New VAT (Value-Added Tax)
Date Posted: March 27, 2023
Source: ABM

A small delegation from the Association of Bahamas Marinas (ABM) recently met with the Hon. Chester Cooper, DPM and Minister of Tourism, Investments & Aviation and Hon. John Pinder, Parliamentary Secretary in that ministry to express concern about the potentially negative impact of the imposition of VAT (Value-Added Tax) on chartered yacht cruises and other concerns.

As a follow-up to that meeting, the association wrote to the DPM to summarise our concerns and to
propose solutions.

The central points covered were:

• The lack of a simplified process for foreign boats and yachts when entering The Bahamas. This is
process is even more convoluted for yacht charters.
• The antiquated process of collection of government revenue (fees) from leisure boaters.
• Improving the data collection and reporting of leisure boating statistics.
• Need for an economic impact study of the leisure boating sub-sector.
• Unrealized potential of the yacht registry in The Bahamas.
• The prohibition of Bahamians in the booking of yacht charters in The Bahamas.
• The lack of an established seafarer licensing regime limits the capabilities of Bahamians in the

It is recognized that these matters will most likely fall under the Ministry of Transport, so the Hon. JoBeth
Coleby-Davis received a similar letter. Hopefully, legislation.


Comment Submitted by Bill - March 29, 2023

Reading between the lines, it really sounds like typical big government. Find any and all loopholes in which to pile on taxes. Ashame. Thought they would have collected enough in the taxes and special fees on rebuild-lumber after Dorian...you know, the $12.5 2x4s etc

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