Local Business


Over $62m owed in casino taxes

Existing casino operators owed the Government nearly $11 million in outstanding taxes at the 2013-2014 fiscal year’s end, while the former Crystal Palace owner’s bill had been under-valued by more than $2 million.

Baha Mar financier confirms Bahamian creditor slippage

Baha Mar’s financier yesterday admitted Bahamians had been pushed further down the ‘creditors queue’ by the receivers’ financing requirements, as it slammed “entirely unfounded” suggestions that it was responsible for the project’s demise.

New NHI consultant is ‘last chance’ for Gov’t

Doctors believe the Government’s hiring of a world-renowned KPMG executive is the last chance to demonstrate it is serious about “meaningful consultation” over National Health Insurance (NHI), amid concerns his report will simply be ignored if the findings are unfavourable.

Bank outsourcing: Middle class on ‘unstable footing’

The continued outsourcing of financial services jobs is placing the Bahamian middle class “on a very unstable footing”, the Opposition’s labour spokesman saying yesterday: “I don’t know how we’re going to arrest this.”

VAT revenues hit $271m for first 5 months

The $271.1 million in gross Value-Added Tax (VAT) revenues collected during the first five months of the Government’s 2015-2016 fiscal year slashed its fiscal deficit by almost 50 per cent to $134.1 million.

IAN FERGUSON: How firms can give a great reception

People often say that first impressions are lasting impressions. Research further indicates that people know whether or not they want to do business with you within the first seven seconds of engagement. Think about how many stores you walked out of because of the first ‘vibe’ you felt, either from the employees or the facilities.

Insurance chairman backs CLICO probe

The  Bahamas Insurance Association’s (BIA) chairman yesterday backed a public inquiry into CLICO (Bahamas) collapse, adding that the new regulatory framework for the sector is “quite robust”.

Integrate insurance reform into change

Insurance reform must be part of this nation’s wider healthcare initiatives, the Bahamas Insurance Association’s (BIA) chairman said yesterday.

Post Office a ‘breeding ground for impropriety’

The Auditor General has warned of an “alarming amount of alleged theft” at the Post Office, with at least one of its practices branded “a breeding ground for improprieties”.

‘Wonderful compromise’ over Business Licences

The Government’s decision to push the Business Licence return filing deadline back two months was yesterday hailed as “a wonderful compromise” that will relieve the stress on both the private sector and accountants, some of whom complained about “busting my behind” to hit January 31.

Gov’t seeks GBPA stake in tax break ‘trade off’

A 20-year extension of Freeport’s expiring investment incentives should only be granted if the Grand Bahama Port Authority’s (GBPA) owners both agree to sell and give the Government an equity stake in the company, the latter’s advisers have recommended.

Unions ‘with programme’ on BEC manager

The Bahamas Electricity Corporation’s (BEC) trade unions yesterday promised they were “with the programme”, as the Deputy Prime Minister confirmed that the Government had given its approval for the signing of a five-year management contract with PowerSecure.

21-day permit, approval time urged for Freeport

The Government has been urged to improve Freeport’s competitiveness and ‘ease of doing business’ by introducing 21-day turnaround timelines for work permits and all business-related approvals.

Opposition deputy: Give Sarkis first opportunity

The Opposition’s deputy leader yesterday said Baha Mar’s original developer, Sarkis Izmirlian, should be given the first chance to revive the $3.5 billion project if he has a workable plan.

ART OF GRAPHIX: Font choices can be heavy lifting

Imagine hauling around heavy boxes of metal type, a different set for every typeface, and having to assemble your text letter in order to design a document. That seems a world away from our point-and-click, instant world of digital design.