NASSAU, BAHAMAS — The government is seeing the best real property tax compliance rate in years according to Prime Minister Philip Davis who told Parliament that the “worst culprits” when it came to non-payment were many owners of the most valuable properties in the country.
During his wrap-up to the mid-year budget debate yesterday, Davis noted that the government is seeing the results of revived Revenue Enhancement Unit.
“We have to ensure that everyone is paying their fair share in this country,” he said.
“Paying taxes is not something people can just choose not to do. The vast majority of people are paying their taxes, and it’s not fair for those who follow the law to shoulder the financial burden of those who do not.
“We are seeing the best real property tax compliance rates in many years. The worst culprits when it came to non-payment, and the records reflect this, were many owners of the most valuable properties in The Bahamas. We have ensured that they are paying their fair share.”
Davis attributed much of his administration’s revenue gains to the widespread economic growth of its policies.
“More Bahamians are working now and many of those who are working are making more money to take care of their families and spend within the domestic economy,” he said.
“Tourism numbers are at record levels, bringing money into our economy. We have also achieved results through more disciplined spending, prioritizing high-impact initiatives, and making hard decisions where necessary. Where certain projects or activities have exceeded the allocation in the budget, they have been funded mainly by re-allocation within the budget, not by unfunded increases in the budgetary allocations,” said Davis.
He added: “Where we have increased the budgetary allocations, for example in Social Services and with respect to certain wage payments, they have been supported by money in the bank. and informed by our need to take care of those who need it the most.
“aWe are fully committed to our deficit targets in this fiscal year and fully committed to empowering and providing support for Bahamian people and businesses.”
