Bahamas to Cancel or Lower Import Tariffs on Certain Goods

From July 1, 2011, Bahamas will cancel or lower import tariffs on certain goods in order to improve consumer welfare.

In this new fiscal year, Bahamas will cancel the tariffs on the imports of fruits, turkeys, hams and sandwich beef, washing products, kidney therapeutic apparatus and their parts.

Meanwhile, it will lower import tariffs and consumption taxes on a batch of commodities; therein, tariff on yoghourt imports will be lowered from 35% to 10%, tariff on chicken imports will be lowered from 40% to 30%, and consumption tax on electric automobiles will be lowered from 85% to 25%, the same as hybrid electric vehicles (HEV);

Additionally, its tariff on biodegradable cutlery will be lowered to 10% from 30%-50%; tariffs on thermal-insulation concrete molding materials and thermal-insulation steel wallboard will be lowered from 45% to 25%, tariff on spraying insulated foam will be lowered from 45% to 10%, and tariff on solar air-conditioners will be lowered from 45% to 10%.