Hubert Ingraham Considers Tax Break For Hurricane Michelle Victims

by Amanda Banks, Tax-News.com, London

16 November 2001

According to the Bahamian Parliamentary Secretary, Michael Smith, Prime Minister Hubert Ingraham is set to announce a one-off emergency tax break for victims of Hurricane Michelle, which swept through the Caribbean with devastating effect last week.

Although the majority of the damage was not too extensive, and mainly cosmetic in nature, Mr Smith revealed, there had been significant flooding in some areas, with New Providence, home to the capital city of Nassau, hardest hit.

As a relief measure to help ease the costs of replacing water-logged property, the Prime Minister has reportedly decided to waive the 40% tax on imported goods for flooding victims. Import taxes are the only levies currently collected in the Bahamas.

Mr Smith revealed earlier this week that the government is keen to provide assistance to stricken citizens as soon as possible: 'Our Prime Minister feels pretty strongly about this and indicated that the waiver is likely to happen soon,' he explained, hinting that there were hopes that the measures could be finalised by the end of the week.

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