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Payroll errors costing taxpayers near $120m
Salary and payroll errors are costing Bahamian taxpayers around $120m per year, the Government’s top finance official disclosed yesterday, as he blamed the wastage on too many systems that are not linked to each other.
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Man granted bail in $7k stealing case
A 28-year-old man was granted $7,000 bail on Friday after being accused of stealing over $7,000 from a man’s bank account three years ago.
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PM: Consumer Protection Bill will help ‘reimagine economy’
The Prime Minister yesterday said strengthened consumer protection laws are a key component in the Government’s plan to “reimagine the Bahamian economy”.
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ArawakX hit by claim of ‘criminal infraction’
The Bahamas’ first-ever crowd-funding platform has a solvency deficiency of “at least $2.4m”, regulators charged yesterday, while accusing it of “governance irregularities, regulatory breaches and possible criminal infractions”.
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ArawakX ‘to be reported’ to police amid $4m insolvency
The Bahamas’ first-ever crowd funding platform is suffering from a near-$4m insolvency, its provisional liquidators have asserted, as they prepare to report “multiple criminal infractions” to the police.
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Turnquest: Davis administration ‘watered down fiscal laws’
FORMER Finance Minister Peter Turnquest accused the Davis administration of watering down fiscal laws that promote transparency and accountability.
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ORG calls for swift action on implementation of the Freedom of Information Act
THE Organisation for Responsible Governance (ORG) wants swift action on implementing the Freedom of Information Act, calling it a critical tool.
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Consumer watchdog says complaints triple
The Consumer Protection Commission’s (CPC) top executive yesterday said complaints have almost tripled compared to 2022 as Bahamians become more aware of its role in resolving their grievances.
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Fiscal Council limbo sparks ‘alarm’ over accountability
Governance reformers yesterday voiced “alarm” that the uncertainty surrounding the Fiscal Responsibility Council highlights a growing “trend” where public accountability and transparency “lack priority” within government.
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Central Bank in multiple exchange control eases
THE Central Bank last night unveiled multiple reforms to further relax The Bahamas’ exchange control regime that it believes will not create any “material” risks for the US dollar peg and wider economy.
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FTX Bahamas warns of $143m US DOJ battle
FTX’s Bahamian liquidators say it is increasingly likely they will have to battle the US Justice Department in the courts to recover $143m given that prospects of an amicable resolution have become “more remote”.
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Gov't backed off 10-day VAT filing for large firms
The Bahamian private sector yesterday said cutting the VAT filing deadline for firms with annual turnover exceeding $5m has been "wholly rejected as unworkable" despite the Government backing off its original 10-day target.
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EY Bahamas announces new Bahamian CPAs
EY Bahamas yesterday announced that two young Bahamian employees, Crispin Hanna and Justin Campbell, have earned their Certified Public Accountant (CPA) designations.
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Gaming Board to be ‘fair and clear’ on Chances grievance
The Gaming Board’s chairman yesterday pledged that the regulator will be “fair and clear” in addressing a web shop operator’s concerns that its funds are being improperly used.
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Chamber ‘carefully monitoring’ frustrations over DIR tax portal
The Chamber of Commerce’s chairman last night said it is “carefully monitoring” mounting private sector frustration caused by the struggle to access the Department of Inland Revenue’s online tax portal.
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Families of victims killed by police call for justice and accountability at vigil
THE families of those killed during police-involved shootings renewed their calls for justice, accountability and closure for the beloved victims during a candlelight vigil ceremony on Friday.
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Pintard: PAC examining concerns over how govt spends, manages and processes funds
FREE National Movement leader Michael Pintard says the Public Accounts Committee (PAC) is examining several audits from the Office of the Auditor General under the administration of Prime Minister Philip "Brave" Davis, saying there are overwhelming concerns about how the government spends, manages, and processes funds.
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RBC acts to reverse ‘double payments’
ROYAL Bank of Canada (RBC) last night pledged it is “working diligently” to reverse payments where customers were charged double for the same transaction.
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Pintard raises cost overrun concerns over GB complex
The Opposition’s leader yesterday challenged the “complicated arrangement” that has resulted in the Government engaging two contractors for the Eight Mile Rock administration complex.
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Ex-Minister: ‘Nothing to do with’ dead dolphins
An ex-Cabinet minister yesterday blamed US bankruptcy trustees for the plight of Blackbeard’s Cay’s dolphins as he had agreed to care being provided prior to their potential sale.
