Cruise lines seeking arbitration with govt over new taxation

Cruise lines have asked the Bahamas government to enter arbitration over the Ministry of Finance's plan to impose VAT on cruise ticket sales, both going forward and retroactively. They want to meet the government and mediators to agree a way forward.

Why it matters:A dispute over VAT on cruise ticket sales could affect government revenue plans tied to cruise taxation and private port developments, and may lead to higher cruise fares for passengers. (Negative development)