2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 37

for, alternative forms of Business Tax in The Bahamas, the
revenues from which could, as an option, serve to replace
the fees now collected in respect of Business License. At
this stage, this is simply exploratory work geared to obtain
an empirically based assessment of tax options and to
canvass the views of a full range of Bahamian stakeholders.
This study is just underway and I emphasize that no policy
commitment has been made to the introduction of any
alternate form of tax at this juncture.
As well, it needs to be borne in mind, at least for the
purposes of prudent fiscal planning, that the introduction of
such a new tax instrument would require an appropriate
development and implementation period that would extend
beyond the time horizon of this Budget.
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