By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
BAHAMIAN businesses were yesterday said to be "on the edge of our seats" over the Prime Minister's pledge to approve and issue Business Licences within seven days.
Edison Sumner, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chief executive, hailed the announcement as a "tremendous" improvement for a process that can presently take "months".
Addressing the Bahamas Business Outlook conference, Dr Hubert Minnis said: "Just recently we have had representatives of the Business Licence department and various government agencies give a presentation to Cabinet.
"They were given a mandate to ensure that Business Licences shall, and will be, obtained within seven days. They have assured us that that will be accomplished." Mr Sumner told Tribune Business: "That is going to be tremendous for the business community considering that now that process takes, in some cases, months to get completed. They have got to go through so many different agencies in order to get a licence approved or renewed in some cases.
"The fact that we are able to hopefully consolidate that process, not only as far as the timeline is concerned but also as far as the number of agencies involved, is a really great thing. That's one of the things we have been advocating for - a single window, single agency approach to getting this done.
"Seven days or less is going to be a phenomenal achievement. I think everyone in the business sector is going to welcome it. We are sitting at the edge of our seats wondering if it is going to happen, and we will do everything we can to ensure the objective is achieved."
Mr Sumner added: "The private sector and the Government is going to benefit. They would get revenue sooner than when they had to wait months on approvals. There are other things happening, but we will have to wait and see the details of these initiatives, and see how well they will play out."
Mr Sumner said the Chamber has been calling for the Government to look at how the Business Licence fee is assessed. "Currently, the way it works is you assess the Business Licence fee on your gross turnover, which includes your gross revenue. What we are asking for is to either look at reverting to the system which was in place a few years ago, and to asses the Business Licence fee on your net profits.
"We have to look at the whole system of taxation, meaning are we going to stick with levying a Business Licence fee on businesses, or do we need to consider another form of taxation? We need to look at a more equitable form of taxation. Right now, charging a Business Licence fee on gross turnover is not equitable for many businesses who are paying more to renew their Business Licence than their take home profits every year."
Comments
OldFort2012 6 years, 3 months ago
Never going to happen.
Those guys cannot even take a dump and wipe their arse in seven days.
B_I_D___ 6 years, 3 months ago
I'll believe it when I see it!!
PatMac 6 years, 2 months ago
Sheer volumes will make this unmanageable unless they multiply resources (i.e. staffng). This goal is very interesting because it puts this administration's apparant commitment to run the country like a "for profit" business against the need to provide and improve services with little to no financial benefit. It not like doing this will result in more people applying for business license.
Even so, is this even possible to achieve? Maybe in the most simple businesses, but definitely not in many cases. We still need to ensure that businesses operate in proper zoning, make sure that buildings are up to snuff to protect staff and customers and that they are environmentally safe and make sure that persons are not avoiding outstanding taxes (like NIB if you want to consider this a tax). Further, some businesses require regulatory approvals from places like Central Bank, Securities Commissions, Insurance Commissions, etc. and the timelines for these regulators are often quoted in WEEKS when you apply to them.
Its hard to know if the delays are due to staff shortages, bad performance, poor management or inefficient processes (or maybe all of the above). Until we address all, it will be most difficult to achieve this target, much less to sustain it.
I see a bait and switch coming.
sheeprunner12 6 years, 2 months ago
Why do the business people in The Bahamas complain ....... and when the Government tells them that Better is on the way ....... They pull the Doubting Thomas move??????
What do you think Minnis is paying Marlon Johnson $200K a year to do????? ..... PRODUCE RESULTS.
bogart 6 years, 2 months ago
.....Agreed. Give it a try and if not possible, fire the advisors. Should not judge by the past when theres some hope and at least people can be fired.
Bigrocks 6 years, 2 months ago
Well, I submitted all my paperwork to the BL dept on Jan 9. No renewal yet!
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