Bahamas faces recession if consumer 'can't absorb' VAT
The Bahamas will fall back into economic recession if consumers are unable to absorb Value-Added Tax’s (VAT) inflationary impact, a co-chair for the private sector’s Tax Coalition warned yesterday.
Top QC's VAT fears eased
Legal and professional services providers were yesterday reassured that work for offshore clients would be treated as ‘zero-rated’ under the proposed Value-Added Tax (VAT), easing fears that it might undermine the Bahamas’ “international competitiveness”.
Gov't increasing VAT energy exemption 150%
The Government is aiming to increase the Value-Added Tax (VAT) ‘exemption’ threshold for electricity bills by 150 per cent to 500 kilowatts per month, Tribune Business was told yesterday, a move likely to cover 50 per cent of residential customers.
Bacon slams Nygard's 'dangerous precedent'
Louis Bacon has slammed claims he is using the Save the Bays coalition as ‘cover’ for his dispute with his neighbour as “entirely misguided”, while adding that alleged unauthorised development at Nygard Cay “sets a dangerous precedent for the Bahamas if left unchallenged”.
Speed Week 2014 eyes 'double room nights'
BAHAMAS Speed Week’s investors yesterday predicted the event will take “a big step up” on 2014 with “double the number of entrants and the room nights”, following a pledge by Deputy Prime Minister Philip Davis to build a proper racing circuit to accommodate it.
ART OF GRAPHIX: Essential qualities for graphic design
This is a typical question: “I’m thinking of choosing graphic design as a career path, as it appears to be a ‘cool’ profession. Besides, my first summer job was at a graphic design studio. And even though I was shocked at how intense the environment sometimes got, I was intrigued and still feel the need to pursue it. Do you have any advice?”
Bahamasair: 20% of subsidy pays off Gov't bills
More than 20 per cent of the $23.476 million taxpayer subsidy granted to Bahamasair in fiscal 2011-2012 went on a money ‘merry go round’ to pay bills the airline owed to its Government shareholder.
VAT 'major concern' to Out Island hotels
OCCUPANCY levels at Family Island resorts remain in the low 30 per cent range, the Out Island Promotion Board’s (OIPB) president said yesterday, adding that Value-Added Tax’s (VAT) potential impact on the ‘bottom line’ of small properties was a growing concern.
BTC targets 10-15k Xmas phone sales
THE Bahamas Telecommunications Company (BTC) is optimistic it will beat last year’s smartphone sales for the Christmas shopping period, the company projecting to sell 10,000-15,000 devices this period.
Micronet unveils 11,500 sq foot HQ
Micronet, the New Providence-based technology provider, has marked its 30th anniversary this month with the unveiling of its new 11,500-plus square foot store and service facility.
BSI executive passes Series 7
An account officer at BSI Overseas, Zachary Lyons, has passed the Series 7 Exam in the US after studying with the Nassau-based Securities Training Institute (STI).
Minimise exemptions to spread VAT's pain
By Simon Cooper
Gov't taps markets over US$300m bond
Key Christie administration officials are currently in the midst of a global roadshow to test international capital market appetite for a potential US$300 million Bahamas sovereign bond issue, Tribune Business was told yesterday.
$50k VAT real estate threshold questioned
A top realtor yesterday questioned why a lower $50,000 Value-Added Tax (VAT) threshold was being applied to real estate investors, calling for a uniform $100,000 benchmark to be applied “across the board”.
VAT 'not best fit' for web shop sector
A Value-Added Tax (VAT) may not be the best fit for the web shop industry, a leading accountant said yesterday, calling it “unfortunate” that this sector was being allowed to operate without facing some form of taxation.
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