Economist Slams Calls For Vat Removal

NASSAU, BAHAMAS – A noted economist is slamming calls for VAT to be taken off breadbasket items.

Fidelity CEO Gowan Bowe telling our Jared Higgs that it amounts to giving a tax break to thousands who don’t need it, in order to help some who do and he’s suggesting a different way.

Bowe was adamant that removing VAT from breadbasket items doesn’t necessarily help poor Bahamians.

He says it gives a tax break to thousands who don’t need it.

On January 1st, the PLP put VAT back on breadbasket items and lowered the rate across the board down to 10%.

Supervalue Owner Rupert Roberts has called for vat to be removed on breadbasket items as a response to rising inflation.

FNM Chairman Dr. Duane Sands says removing VAT from breadbasket items was tone-deaf but Bowe doesn’t agree that removing VAT on breadbasket items is effective.