Bahamas Lowered Consumption Tax Margins on Motor Vehicles and Domestic Beers for New Fiscal Year

On June 3, 2010, Bahamian Prime Minister, Mr. Ingraham, said that the Bahamian Government agreed to lower the raising margins of consumption tax on motor vehicles and domestic beers, which was set in the drafted budget for the new fiscal year.

The Government decided to raise the consumption tax to 65% from 45% on imported motor vehicles with displacements below 2.0 liters, to 75% from 65% on motor vehicles with displacements over 2.0 liters, and apply 85% to motor vehicles with displacements over 2.5 liters.
The consumption tax on domestic beers shall be raised to USD 5 per gallon from USD 4 per gallon.