The Bahamas Institute of Chartered Accountants (BICA) met with the New Zealand consultants on Value-Added Tax (VAT) to discuss how it can help with the fiscal reform public education process.
BICA’s educational mission is to educate consumers and professionals, so they have a better understanding of VAT.
It also wants to educate businesses on the VAT guidelines and regulations, particularly as it relates to proper accounting and record keeping.
BICA’s VAT committee presented a draft VAT document to the Government, which spoke about a reduction in the VAT rate, plus a corporate tax and payroll tax.
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