Most countries with failed economies are operating on the Value Added Tax (VAT) System, Consultant H. Rudy Sawyer said Thursday. Sawyer made this claim at the Rotary Club of Freeport’s weekly luncheon at Ruby Swiss where he served as guest speaker. In spite of that finding, though, Sawyer noted that a failed economy is not necessarily the future that Bahamians should come to expect. Concerning the outcome of the January 1 arrival of VAT, Sawyer said it is a “wait and see” matter; one that cannot be accurately predicted. However, he said, the outcome should not be feared by the Bahamian public, either.

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