In the area of Customs administration, the Government will amend the Customs Management Act to make it mandatory that pleasure vessels obtain a Certificate of Clearance before departing The Bahamas. Currently, all pleasure vessels are not required to report when they leave our waters, only when they arrive, which makes it somewhat challenging to keep track of and control which vessels are in our waters on any given day. Thus, in an effort to strengthen control and oversight of this sector, the Government will amend the Act to require outward reports from all pleasure vessels.
Other administrative changes relating to legislation include amending section 25 of the Real Property Tax Act, to legislate the VAT charge on conveyances, in line with the shift from stamp tax to VAT on real property sales at the time of the last Budget Communication.
The Government will also amend the City of Nassau Revitalization Act to clarify the southern boundary to include the extension of the eastern boundary from Mackey Street to Montague Beach.
DOWNLOAD THE LEGISLATIONCity of Nassau Revitalization (Amendment) Bill, 2020