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ECONOMICS Affairs Minister Michael Halkitis. Photo: Austin Fernander

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Foreign buyer VAT rise gains ‘90-day transition’

A Cabinet minister yesterday confirmed the Government is allowing a 90-day “transition period” so that foreign purchases of real estate valued at under $1m - and already subject to sales agreements - can close at existing VAT rates.

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Halkitis says Davis administration has to ‘live with’ Cruise Port deal

ECONOMIC Affairs Minister Michael Halkitis said the Nassau Cruise Port deal the Minnis administration executed is one the Davis administration has to live with.

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Claims improper practice used in rental of consumer protection office

THE deputy chairman of the Consumer Protection Commission claims improper practices led the government to choose the agency’s new rental space, a claim Economic Affairs Minister Michael Halkitis denied yesterday.

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Gov't is 'upping efforts' on $461m tax arrears

A Cabinet minister yesterday asserted that the Government is "upping our efforts" to collect a combined $461m in outstanding real property taxes owed by delinquent foreigners and businesses.

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Halkitis: Not considering fuel retailers margin fix

ECONOMIC Affairs Minister Michael Halkitis confirmed yesterday that the Davis administration is not considering adjusting price margins in favour of petroleum retailers despite some refusing to sell diesel amid complaints about high operating costs.

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New Central Bank building cancelled as it would be ‘a bad look’

ECONOMIC Affairs Minister Michael Halkitis said the Davis administration cancelled the new multi-million dollar Central Bank headquarters because building it would not look good following the COVID-19 pandemic — an explanation former Prime Minister Dr Hubert Minnis called “flimsy”.

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$5.6m grant signed with IDB for health infrastructure

THE Ministry of Economic Development and the Inter-American Development Bank signed a $5.6m grant to reinforce healthcare infrastructure in The Bahamas, enhance primary care coverage and modernise the healthcare system.

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Govt ‘sympathetic’ to gas retailers plight but not minded to grant margin increase

ECONOMIC Affairs Minister Michael Halkitis yesterday said the government is “not minded” to do anything that will increase the cost of fuel at the pump, but added that the Davis administration is “sympathetic” to the concerns raised by members of the Bahamas Petroleum Retailers Association.

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Government to meet with retailers on price control

GOVERNMENT hopes to soon meet with food retailers to come up with a permanent expanded price control list or other solutions before its existing price control regime ends on April 17, Economic Affairs Minister Michael Halkitis said yesterday.

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‘Can’t look other way’: Queries on 47% of Business Licences

A Cabinet minister yesterday said the tax authorities simply “cannot look the other way” when 47 percent of Business Licence applicants are submitting no turnover or “exactly the same amount for the last three years”.

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Halkitis ‘open’ to proposal on Village Road stimulus

ECONOMIC Affairs Minister Michael Halkitis said he is open to reviewing a proposal from Village Road business owners who are requesting an economic stimulus package for loss of business due to ongoing road works.

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Halkitis: Food retailers are expected to comply

ECONOMIC Affairs Minister Michael Halkitis said yesterday the government fully expects food retailers to comply with its new price control regulations and that it intends to enforce the law against operators who refuse to implement the changes.


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