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Madam President, As I rise today, I want to begin by thanking the Most Honourable Dr. Hubert Alexander Minnis, Prime Minister and Minister of Finance for my appointment as Minister of State in the Ministry of Finance. I am humbled to be chosen for this position and thank God for the privilege to continue serving my country at such a time as this. Since my appointment I have received many well wishes and prayers, and I take this time to express my gratitude for the support. I will serve to the best of my ability by the grace of God.
Nassau, The Bahamas – Senator J. Kwasi Thompson, Minister of State for Finance, said the Government has made a decision to extend a number of tax concessions under the Disaster Reconstruction Authority (Special Economic Recovery Zone) (Relief) Order, 2020 to June 2021.
During his Statement on the Extension of the Disaster Reconstruction Authority (Special Economic Recovery Zone) (Relief) (No.2) Order, 2020 in the Senate on Wednesday, December 9, 2020, Sen. Thompson said Grand Bahama and the Abacos were designated as Special Economic Recovery Zones (or SERZ) immediately following the catastrophic impact of Hurricane Dorian.
“The tax relief measures administered by the Ministry of Finance and its agencies under the SERZ have provided vital support to the local communities ever since the islands where devastated. Many of the provisions were set to expire on December 31, 2020.