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Family Islands urge: ‘tax web shops to the hilt’
Family Island businessmen yesterday urged the government to “tax the web shop industry to the hilt” because it has left many communities “in shambles”.
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Bastian unsure if govt will meet October 15 date for web shop licences
WITH less than ten days before the expected issuance of web shop licenses, Island Luck CEO Sebas Bastian yesterday said he remains “optimistic” that his company will be among those selected to receive a license to operate legally in the country.
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PM says money could be funnelled into public purse
IF BAHAMIANS say “yes” to the legalisation of web shop gaming in the country, tax revenues ranging from $15 to $20 million a year could be funnelled into the public purse, Prime Minister Perry Christie announced yesterday.
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Christmas shopping during COVID-19
It’s definitely beginning to look a lot like Christmas. But before we get to that special time of the year, we have to get through the holidays of a shopaholic’s dream - Thanksgiving and the Black Friday and their sales.
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Web shops: Technology puts us outside law
THE web shop industry is arguing that the sector’s “development of technology and business methods” have taken it outside the regulatory purview of the Lotteries & Gaming Act.
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Alphabet soup! Families given shopping day rota
THE Office of the Prime Minister has announced that starting today, a food shopping schedule will come into effect for the entire country.
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Minister: Web shop money laundering fear 'not very high'
A Cabinet Minister yesterday said money laundering concerns stemming from a banned/underground web shop gaming industry were “not very high”, but others said it would be “naive” not to think the situation may attract international attention.
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Shoppers must play by crisis rulebook
GROCERY store managers support new shopping restrictions outlined by Prime Minister Dr Hubert Minnis, but they fear the public will not adhere to the new rules unless they are strictly enforced.
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VAT 'not best fit' for web shop sector
A Value-Added Tax (VAT) may not be the best fit for the web shop industry, a leading accountant said yesterday, calling it “unfortunate” that this sector was being allowed to operate without facing some form of taxation.
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Canadian banks stand firm on web shop bar
CIBC FirstCaribbean’s Bahamian managing director yesterday confirmed the three Canadian-owned banks were standing firmly behind their position not to accept deposits from a legalised web shop industry.
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MP: What about existing web shop loans?
The Gaming Bill and accompanying regulatory package fails to address the multi-million dollar ‘parallel banking system’ created by a web shop industry that is unlikely to “suddenly give that up”, Tribune Business was told yesterday.
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Web shops will grow again after recent layoffs, says Wilchcombe
TOURISM Minister Obie Wilchcombe believes web shop operations will eventually grow and employ more Bahamians, reversing a concerning trend.
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BOB shareholders say web shop deposits ‘no problem’
Two outspoken Bank of the Bahamas shareholders yesterday said they had no objection to it accepting deposits from a legalised web shop gaming industry, and questioned why other Bahamian institutions were not following its lead.
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July 1 taxation date for web shops
PRIME Minister Perry Christie affirmed his government’s intent to regulate and tax web shops, telling the House of Assembly yesterday that whenever the proposed taxes on the underground sector are introduced, they will be retroactive to July 1 this year.
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Central Bank chief: ‘Ultimate’ goal is to bank web shops
The Central Bank’s governor yesterday said the “ultimate” goal is for the web shop industry to satisfy commercial bank concerns and reach the point where it can be “banked”.
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'Webshops may be fleecing customers'
WEBshops may be “fleecing” its customers out of winnings from unregulated electronic slot games, Gaming Board Chairman Dr Andre Rollins told the House of Assembly yesterday.
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A COMIC'S VIEW: Life’s razor sharp at the barber’s shop
THIS week’s column is for my barber Leon, and barber shops world wide, the last bastion of free speech and unfiltered humour!
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JUST IN: Court of Appeal judges dismiss web shops' appeal
The application filed by attorneys representing web shops was just dismissed by the Court of Appeal.
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Tie web shop taxes to VAT rate increases
The Bahamas Chamber of Commerce’s (BCCEC) chairman yesterday called for web shop taxes to be bound to the Value-Added Tax (VAT) rate, so that they increased whenver the latter did.
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‘No guarantees’ for web shops
Web shop operators were yesterday said to be “very concerned” over the uncertainty and lack of any guarantees surrounding the industry’s impending legalisation.
