July 26, 2023
Financial Secretary Simon Wilson.
Stories this photo appears in:
‘Very aggressive’ crackdown on $200m smuggling, evasion
The Government’s top finance official last night pledged “a very aggressive” approach to cracking down on smuggling and tax avoidance schemes believed to cost The Bahamas a combined $200m annually.
Private cruise islands set for VAT reform hit
The Government is planning tax reforms that will hit the cruise lines’ Bahamian private islands and end their nine-year VAT-free status, it was confirmed yesterday.
‘No issues’ over Govt’s $3.5bn debt refinance
The Ministry of Finance’s top official yesterday reassured there are “no issues” over the Government’s ability to refinance some $3.466bn in debt maturing this fiscal year given its access to “credit lines”.
‘Beyond dispute’: But marinas demand proof
The Ministry of Finance’s top official yesterday asserted it was “beyond dispute” that boating fees due to the Government had not been paid amid demands from the marina industry to “show us the evidence”.
Tax dodgers ‘dominate’ foreign yacht charters
The Ministry of Finance’s top official yesterday hit back over concerns about VAT’s imposition on foreign yacht charters by arguing the sector was “dominated” by a few large tax-dodging companies that need “to pay their fair share”.
‘ERRORS’ ON PAYROLL COST GOVT $120M: ‘Some had salary paid for decades without records’
PAYROLL errors could be costing the government as much as $120m a year, Financial Secretary Simon Wilson said yesterday.
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