Effort to modernize real property tax systems to create 40 Bahamian jobs

Effort to modernize real property tax systems to create 40 bahamian jobs Project targeted to yield estimated $21M in additional revenue The Department of Inland Revenue (DIR) is pressing forward with its massive Real Property Tax Modernization Project that will immediately update the real property register, and eventually upgrade the entire assessment process and the woefully outdated land register.

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The Real Property Tax Modernization Project is a key component of plans announced by K. Peter Turnquest, Deputy Prime Minister and Ministry of Finance, to enhance revenue administration and improve yields from existing taxes. The project also falls squarely in line with the broader push to digitize all government services.

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And they hope to get that money from property owners in. Proponents of the tax say the money could enable the region to survive droughts better, reduce pollution from storm runoff and create.

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Effort to modernize real property tax systems to create 40 Bahamian jobs Business May 9, 2019 May 9, 2019 Eyewitness News The Department of Inland Revenue (DIR) is moving to implement its Real Property Tax Modernization Project, which will immediately update the real property register.

Bahamian musicians performed at the recent 50th Anniversary New Orleans Jazz and Heritage Festival, attended by Minister of Tourism and Aviation Dionisio D’Aguilar and Ministry officials. Musicians Raphael Munnings, Nehemiah Hield, Dyson and Wendy Knight, Patrick Carey, Raphael "Raffe" Munnings, Jr., and the Bahamas Revue Band were featured in the lineup.

The maximum property tax assessable per year is $50,000. It is incumbent on the owner of the property to ensure that the taxes are paid on or before they are due. Payments may be made to the Public Treasury in either Bahamian or United States currency. Failure to pay taxes on time will result in a surcharge of 5% per annum until payment.

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