According to Bahamas' latest Budget for 2014/2015, released on 28 May 2014, VAT will be introduced from 1 January 2015.
In addition, to delaying the implementation to 1 January 2015, the basic rate is to be reduced to 7.5% (from previous proposals of 15%).
In accordance with the budget, the key features of the proposed Bahamian VAT are as follows:
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