NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis stated that the government was not being “too hasty” in its property auctions aimed at recouping millions in outstanding real property tax arrears, emphasizing that this measure is “the last resort.”
While addressing the matter at the Office of the Prime Minister’s press briefing on Thursday, Halkitis remarked, “I say all the time, when you see this happen, this is not the first resort; this is the last resort. Many of the cases that are published stem from people ignoring the department—telling the department where they can go and refusing to acknowledge their obligations. This is the absolute last resort.”
He noted that it has taken “10 to 20 years” to reach this point, particularly in cases involving foreign-owned properties, where most individuals have simply not responded. “This is the last test; it’s a long time coming for this situation,” he reiterated.
“Under our direction and guidance, we have undertaken tremendous forbearance. The government wants to collect the revenue that is owed to it,” said Halkitis.
The Department of Inland Revenue (DIR) has initiated property auctions through the power of sale revenue enforcement mechanism to recover tax revenue from long-term delinquents.
