I was recently involved in a matter whereby a PLP Senator, Jerome Fitzgerald, stated in the Upper Chamber of Parliament that the company I work for "committed an egregious offence against the Stamp Tax" Act.
In a nutshell, we submitted an entry on May 25, 2010, for goods that arrived on May 24, 2010. The entry was approved on May 25, 2010, according to the Bahamas Customs stamp on it, and the Government announced a new tax rate on May 26, 2010. On May 27th we paid the approved entry, after getting a Manager's Cheque from the bank as usual, and collected the product off the dock. 83% of it was subsequently sold. Almost a month later Mr. Fitzgerald took advantage of his lofty position of power and made his comments described above. To make matters worse, Bahamas Customs rescinded their original approval and charged the higher rate of duty
