VAT HOTLINE – Monique Green staffs the VAT hotline at the Ministry of Finance. The number is 225-7280. (Photo by Derek Smith, Jr)
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The
Ministry of Finance announced today it has launched a hotline with
experts standing by to answer questions about the proposed Value Added
Tax system set to go into effect July 1.
The hotline number is 225-7280. It is staffed between 9 am and 5 pm daily Monday-Friday. The VIBE line is toll-free throughout The Bahamas.
“Since
we launched the number two days ago without a lot of fanfare in the
testing stage, we have had very interesting calls reflecting that people
understand change is needed, but they just want
more information,” said Financial Secretary John Rolle. “What we have
heard so far is evidence that the greatest need for information is on
the part of the consumer as businesses have made it a point of learning
as much as they can to date. When you hear questions
like ‘Should I buy a new car now or wait? Which will be least expensive
in taxes?’ or ‘Do I have to pay VAT on my condo association fees?’ or
‘How will it affect the price of baby formula?’ it’s clear that the
upcoming schedule for VAT items and exemptions
will be very helpful.” Government intends to publish the first schedule
for consideration on January 17.
The hotline is also accepting comments for consideration.
A series of town meetings is planned with the first set tentatively for Exuma next week.