Barbados gov't to eliminate duty and VAT on boat registration

Bahamas Prime Minister Philip Davis has announced plans to eliminate duty and value-added tax on boat registrations.

Mr Davis, who is also the Minister of Finance, says the duty and VAT will be replaced with a schedule of fees for registration in an effort to get more pleasure vessels flying the Bahamian flag.

He says the combined duty and VAT rate is too onerous in comparison to registering the vessel in the United States, Jamaica, or the Cayman Islands.