I am so happy at the way I am seeing people getting accustomed to the idea of VAT being our taxation system. Bahamians now know that VAT will put their government in a better position financially and stop the extraordinary national debt and borrowing.
What really gladdens my heart is knowing that the Chamber of Commerce, along with other entities, have joined forces to create what is called, “VAT Education Task Force” – A force mandated to make sure every business person in the country is well versed on VAT and ALSO to make sure every business that fits the requirement is registered.
Once businesses see that the Chamber of Commerce is not only on board but also involved with the VAT education process then they should realize VAT is a proper taxation program that will help more than harm.
I am a business owner and YES my business makes more than $100,000 so I am VAT registered and ready to go. I implore other business owners, fitting the criteria, to do the same.