National

Bah. Insurance Association Opposes VAT Charge

NASSAU, BAHAMAS – The Bahamas Insurance Association is speaking out against a move it says will lead to increased costs for those with health insurance.

Published

2 years ago

February 2, 2023

Jameelha Missick

NASSAU, BAHAMAS – The Bahamas Insurance Association is speaking out against a move it says will lead to increased costs for those with health insurance. It’s sparked a war of words between the BIA and Department of Inland Revenue.

Come April 1, 2023, you will have to pay your own value added tax on health-related services.

It’s a decision that The Bahamas Insurance Association strongly opposes, as they say the change will lead to increased costs for those with health insurance.

Chair of the BIA’s Health Insurance Committee Marcus Bosland says the change is inappropriate and will harm consumers, as it may affect their access to medical care.

In addition, Bosland says the new VAT rules will harm local healthcare providers.