The Bahamas was last week given “a warning” by the International Monetary Fund (IMF) to prevent its debt-to-GDP ratio going into 60-70 per cent “bad territory”, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman urging this nation to keep all tax reform options – including an income tax – on the table.
Suggesting that the Washington-based Fund had given the Bahamas a ‘road map’, or “prescription”, on how to address its declining fiscal position, Winston Rolle again urged that open discussions be held on tax reform, given that the various trade agreements this nation was entering required a reduction, and elimination, of many Customs tariff rates.
