2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 32

take some time to come to fruition, we realize that given the
state of the nation’s finances, we cannot wait an
indeterminate time to see results. Accordingly, this budget
targets upwards of $80 million in increased customs, excise
and real property tax revenues in 2018/19, over the
anticipated run rate so as to ensure that the revamped
revenue collection unit – and the revenue agencies
individually – are mandated to improve their collection of
the taxes that are on the books presently. Further, they will
have to demonstrate to my satisfaction – and that of the
Bahamian people – that their efforts are producing tangible
benefits in bringing in uncollected and under-collected taxes.
Structural Reform of the Tax System
Mr. Speaker,
It is undeniable that our current system of taxation
must be reformed and modernized in order to ease the
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