Citizens, Why doesnt our government just start collecting the outstanding taxes? It seems the Office of The Auditor General agrees... The revelations, contained in the Auditor-General’s report tabled in the House of Assembly late Monday, are likely to again prompt questions as to whether the Bahamas would need Value-Added Tax (VAT) if it collected all sums due under the current system. And, given the widespread and persistent real property tax non-compliance, many are likely to query whether the Government will fare any better with VAT. “The outstanding real property taxes for the fiscal year 2011-2012 amounted to $107.662 million,” the Auditor General’s report said. “In addition, the cumulative outstanding taxes for prior years totalled $476.865 million, thus giving a grand total of $579.601 million.” The Auditor General, repeating a phrase he uses every year, described the $579.601 million in outstanding real property taxes as “exorbitant”, with the figure increasing annually. “We recommend that immediate measures be implemented to address the problem of outstanding taxes,” he added. tribune242/news/2014/oct/09/high-fraud-risk-as-108m-taxes-still-due/?news
Posted on: Fri, 10 Oct 2014 03:14:13 +0000
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