October 30, 2018
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The government will make its first drawdown on the $100m Inter-American Development Bank (IDB) disaster recovery loan facility “within the next two weeks”, a top official has confirmed. Marlon Johnson, the Ministry of Finance’s financial secretary,
CUSTOMS officials said yesterday they had reached a “major milestone” having integrated New Providence seaport to the Click2Clear Portal which will become its primary processing system on September 1.Superintendent Tyrone Sands, underscoring the impo
The Ministry of Finance’s top official is “very confident” that next month’s roll-out of Customs’ new system on New Providence will be “manageable” despite concerns voiced elsewhere.Marlon Johnson, acting financial secretary, told Tribune Business th
The Ministry of Finance’s top official yesterday pledged that VAT on real estate sales will be payable online during this fiscal year, adding: “It’s well beyond time to go digital.” Marlon Johnson, acting financial secretary, told Tribune Business t
The government is reversing taxation policy that threatened to destabilise the Bahamian second home market with legal reforms tabled alongside the 2019-2020 budget.
The government has no plans to write-off its $480m in real property tax arrears and will “pursue” all delinquents “with vigour”, its top finance official warned yesterday.
The government has introduced “discretion” into the crack down on corporate tax cheats who seek to evade their liabilities by reincorporating under a different vehicle or name.
The government is targeting a minimum $21m in extra annual revenue through a “world class” real property tax system that captures every home and commercial building on New Providence.
The Ministry of Finance’s top official yesterday said its Revenue Enhancement Unit (REU) could reclaim up to $100m per annum from tax dodgers once it begins operations in mid-May.
The Ministry of Finance’s top official yesterday voiced optimism that the government will not squander the “$108m headroom” created by the fiscal third quarter’s $40m budget surplus.
The Ministry of Finance’s top official yesterday revealed collections in the current “revenue-rich” quarter were “promising”, with the government’s fiscal “game plan” firmly on target.
Customs is moving to ensure the one-time registration for its new automated system is as “efficient and seamless” as possible following multiple complaints of delayed import clearances.
The government does not have the VAT refund process “down pat like we should”, a top official has admitted, although “some headway” was being made.
The government was last night said to be confident there will be “no deviation” from its $237m full-year deficit target despite incurring almost three-quarters of this sum in the first six months.
The Ministry of Finance’s top official yesterday admitted there is “substantial” revenue loss from fraudulent invoices that are impacting up to 29 percent of The Bahamas’ trade.
A top Ministry of Finance official yesterday said the government is already “beating” its five-day business licence turnaround pledge amid “kudos” from the private sector for the improvement.
CLICO (Bahamas) clients are unlikely to receive a much-needed Christmas gift after a top government official yesterday confirmed their latest payout is unlikely to be made in time.
The Government has eliminated the need for companies to provide upfront proof of National Insurance Board (NIB) compliance before they can obtain business licence renewals.
The Government’s 2017-2018 fiscal deficit overshot the deputy prime minister’s year-end forecast by $105m due to a late spending “ramp up”, a top official admitted yesterday.
The first-ever fiscal strategy report was yesterday branded “a sea change” that will hold current and future administrations to account for their stewardship of The Bahamas’ finances.
The Ministry of Finance’s top official yesterday “categorically rejected” fears that the new business licence regulations are the first step towards implementing a corporate income tax regime.Marlon Johnson, the financial secretary, told Tribune Busi
THE Ministry of Finance’s top official yesterday defended the new business licence regulations on the basis that too many companies’ financial statements “do not stand up to scrutiny”.Marlon Johnson, pictured, the financial secretary, said this was t
The Ministry of Finance’s top official yesterday said it was “not preparing to throw a party just yet” despite increased VAT revenues driving a 52 percent cut to the Government’s fiscal deficit. Marlon Johnson, acting financial secretary, told Tribun