NASSAU, Bahamas — The government is now accepting applications online for merchants who wish to apply for customs duty waivers on shoes and clothing, in an effort to lessen the need for online shopping and encourage more domestic use of the retail market, a press release revealed yesterday, the Nassau Guardian reported on November 12.
According to the release from the Ministry of Finance (MOF), 154 applicants have already received waivers since the government’s policy was announced and the 2018/2019 budget year began. Now the application process is available online.
“There are many more eligible businesses that can apply for the waiver, and the Ministry of Finance wants to encourage them to utilize this tax relief measure to reduce the cost of doing business and to bring down the price of retail shopping at home,” the release states.
Financial Secretary Marlon Johnson said in the release that the waiver is meant to help businesses remain competitive in a increasingly online-oriented world and bring savings to consumers. Stores must let their customers know that they have received the savings and passed them along, however. https://thenassauguardian.com/2018/11/12/govt-now-accepting-customs-duty-waivers-online/