October 29, 2021
MINISTER of Economic Affairs Michael Halkitis.
Photo: Donovan McIntosh/Tribune Staff
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COVID delays hit target for accounting system
MICHAEL Halkitis says it’s unlikely the government will meet a target and transition to an accrual accounting system by the end of the 2022/2023 fiscal year, citing COVID-19 disruptions.
Gov’ts 3% growth target below UoB ‘health’ goal
A Cabinet minister yesterday said the Government is targeting a five-year average growth rate that falls short of that recommended to restore The Bahamas to economic and fiscal “health”.
Halkitis hits out at FNM over VAT Bill amendment
MINISTER of Economic Affairs Michael Halkitis accused the Free National Movement of continuing to “peddle its misguided tax policy” by trying to pass a last-minute amendment to the government’s Value Added Tax Bill in the House of Assembly last night.
Opposition’s last-ditch VAT change bid fails
A Cabinet minister last night slammed the Opposition’s bid to introduce last-minute changes to the VAT Bill as the two sides continued to trade blows over the rate cut and ‘zero ratings’ end.
Income tax is ‘not on table’
A Cabinet minister yesterday said income tax is “not on the table” although he appeared to leave open the possibility of replacing Business Licence fees with a corporate version.
Insurance VAT return ‘not even on the table’
A Cabinet minister yesterday said making homeowners insurance VAT-able was “not even on the table”, with legislation to effect the rate cut to be tabled in Parliament by next Wednesday.
VAT increase on breadbasket items ‘best practice’
ECONOMIC Affairs Michael Halkitis defended the anticipated increase of value added tax on breadbasket items, saying it follows expert advice and best practices around the world.
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