VAT TRAINING NOW IN SESSION!: The opening session of VAT see double the expected attendance and all licencees are encouraged to confirm their spot on any of the final three days of the conference which ends 17th October.
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Freeport, Bahamas - The
Grand Bahama Port Authority’s (GBPA) efforts to assist its licencees
with pertinent information regarding the fast approaching implementation
of VAT received rave reviews,
as day one of the four day initiative began today at the Pelican Bay Canal House, with many being
asked to roll over to the following day as the room’s capacity was full.
Registration for the remaining days are encouraged, as the hosts cannot
override the room’s capacity.
Nearly
100 concerned persons from the island’s business sector turned out
for advice and practical assistance on the new consumer tax VAT.
GBPA
Vice Chairman Sarah St. George praised the event and noted its
significance as it relates to the entity’s licencees. “Everyone of
us will be impacted by VAT in some form or other. All of
this is vital because VAT applied to us here in Freeport will be a bit
different to its application elsewhere in The Bahamas. While
Freeport should see more exemptions and zero rating, that does not
necessarily mean an easier transition"” She said. “So it’s
very important that we take the time to follow the consumer tax theory
and actual mathematics of VAT. I think that by the end of the
week,everyone will have a basic grasp of numbers and software
programmes as well as formulated new practical questions. I
certainly have".
Keith
Worrell, VAT Implementation Unit representative served as one of the
event’s key presenters, in which he pointed out what he hopes to achieve
within the session. “The purpose of this exercise
today is to try to give licencees a clearer understanding about the way
in which VAT would impact their business, as well as the role that we
expect them to play in the VAT regime,” he said.
VAT Training sessions will continue daily to the end of the week, beginning at
9:30 am each day.
Wednesday will focus on the manufacturing and industrial related sectors.
Thursday’s segment will
focus on businesses within the transport related sectors (both passengers and goods), with sessions wrapping up
on Friday, focusing on businesses in the professional services sector.
VAT FORUM HOSTED BY GBPA: Presenters and hosts take a quick break to pose for a shot at the opening day of the VAT training sessions, hosted by GBPA every day until 17th October of this week.(From Left) Bahabeach Web IT Development Director Chief, Dario Roberts, GBPA Vicechairman, Sarah St.George, Keith Worrell, representative of the VAT Unit, GBPA Business Services Manager LaShawn Dames and GBPA Commercial Manager, Charles Pratt.
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