The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Chamber of Commerce’s chief executive yesterday called for the private sector to be better educated on the VAT legislation to ensure “optimal understanding and adherence”.

Dr Leo Rolle, responding after Ryan Pinder KC, the attorney general, revealed that a Commissioner of Revision has been appointed to consolidate and reissue much-changed laws such as the VAT Act, said the business community needs to know how the Department of Inland Revenue (DIR) is interpreting the law rather than merely reprinting the legislation.

He added: “The Bahamas Chamber of Commerce & Employers’ Confederation believes that the key to ensuring optimal understanding and adherence to the VAT legislation lies in the education of the business community on the DIR’s interpretation of it and properly explaining changes to their procedures rather than reprinting the same document to have the same results.”

Dr Rolle said the Chamber is interested in partnering with the relevant authorities to provide education and training to the private sector, and clarify portions of the legislation that are confusing.

“The Chamber is open to partnering with the Government and relevant agencies to host a series of meetings/webinars that will provide training and capacity building opportunities where the relevant authorities can discuss the Act and clarify the many points causing confusion. We feel this is the better course of action given the concerns of the business community,” he added.

Mr Pinder said the VAT Act is a “nightmare” as it has been changed and amended multiple times every year, thus making it hard for businesses and attorneys to stay current with the amendments.

He said: “Historically, we’ve never had a focused revision section and that’s why our laws are so choppy. I mean, you go through the VAT Act and amendments, it’s a disaster. You have amendments that add things, amendments that delete things that were added, amendments that were added again, and to follow it is a nightmare.

“We look to issue a reprint, we call it, because it’s not a revised edition. Revised edition is the whole compendium, a reprint of the VAT legislation this year that will be a full certified consolidated element of that.”

Mr Pinder said the reprint of Acts will ensure members of the public are aware of what laws apply to them and attorneys can adequately advise their clients.

“Our revision exercise is underway. We’re looking at a comprehensive approach. We just updated laws online last year, 18 months ago or so, that was updated with the 2017 revision exercise. That tells you how gappy your revision exercises in this country have been with respect to legislation,” he added.

“We want this to be a continuous process of revision to have clean laws so people can understand the laws that apply to them, so lawyers aren’t making mistakes advising their clients because it’s the clients that are put in jeopardy.”