by: Nina Laing, Freeport News Reporter

Contrary to arguments that Value Added Tax (VAT) would have an adverse effect on the economy and livelihood of residents in The Bahamas, one banking executive suggests that many citizens can easily adjust to life with the proposed tax.

Fidelity Bank (Bahamas) Limited President Gregory Bethel said that there is a great deal of inaccurate information being spread about VAT, namely what the tax will be applied to.

While addressing Rotarians of the Freeport Club at their weekly luncheon at Ruby Swiss Restaurant yesterday, Bethel said they ought not be concerned about VAT being applied on goods, because few products will receive the tax.

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