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Systematically accounting for all VAT’s implications
Business owners certainly had more than the holidays on their minds as 2014 came to a close. Value Added Tax (VAT) was a looming concern on the minds of consumers and the private sector alike as we stepped into this New Year.
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BICA unveils events for Accountants Week
The Bahamas Institute of Chartered Accountants (BICA) is holding its annual Accountants Week this week, with seminars from Tuesday through Friday at The Melia Nassau Beach Hotel.
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Union concern at $1.1m breach
THE executive committee of the Bahamas Union of Teachers has raised concerns about a “serious” procedure breach in which more than $1.1 million from the union’s pension and savings accounts were allegedly spent in contravention of union policies.
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Bahamas bank’s account seized over $58.5m ‘pig butcher’ scam
A Bahamian financial institution yesterday asserted it “has been proactively co-operating” with a US Secret Service probe that seized its bank account on the basis that $58.465m in fraud proceeds were laundered through it.
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Davis says Turnquest wrong on Urban Renewal claim
OPPOSITION Leader Philip “Brave” Davis yesterday denied assertions by Deputy Prime Minister K Peter Turnquest that certain bank accounts of the previous administration’s Urban Renewal 2.0 initiative were “private” and thus inaccessible to the auditor general for review.
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Accountant concern over AML inspection agent end
Bahamian accountants yesterday expressed concern over the Securities Commission’s decision to stop using them as its anti-money laundering (AML) inspection agents from 2014, a former BICA president describing the move as “incomprehensible”.
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VAT may create tax specialists
THE Government’s proposed Value Added Tax (VAT) is expected to generate an entirely new revenue stream for private sector accountants, the Bahamas Institute of Chartered Accountants (BICA) president yesterday telling Tribune Business the reforms may create jobs for Bahamian tax specialists.
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Accountability culture key to business wins
WORKPLACE accountability is vital to success. Accountability is where a person is expected to take ownership of their actions or decisions. It is particularly important for corporate leaders to have a high degree of accountability as they manage huma
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Opening Bahamian bank accounts ‘totally insane’
A PROMINENT accountant yesterday blasted “it’s crazy, absolutely insane” that Bahamian businesses face an average wait of more than two months to open a bank account compared to “20 minutes” in the US.
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QC’s account closures cost Scotiabank $10k
A Bahamian QC has won $10,000 in damages from Scotiabank (Bahamas) after it abruptly closed his law firm’s bank accounts without giving any warning.
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Slimming the fat linked with FATCA
We are living in a time where the tax landscape facing the Bahamian financial services industry is changing and evolving rapidly. On November 3, 2014, the Government executed a Model 1 Intergovernmental Agreement (IGA) with the US government to implement the latter’s Foreign Account Tax Compliance Act (FATCA).
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'Fundamental concern' over $1bn current account deficit
The Bahamas must develop a long-term plan to address the “structural imbalance in its balance of payments”, a former finance minister describing this as his “most fundamental concern”.
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Government's watchdog 'robbed' of independence
By NEIL HARTNELL Tribune Business Editor The Auditor-General is being "robbed of administrative independence" because he cannot initiate prosecutions where corruption and fraud involving public monies is suspected, a Public Accounts Committee report noti
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Government's watchdog 'robbed' of independence
By NEIL HARTNELL Tribune Business Editor The Auditor-General is being "robbed of administrative independence" because he cannot initiate prosecutions where corruption and fraud involving public monies is suspected, a Public Accounts Committee report noti
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Government's watchdog 'robbed' of independence
By NEIL HARTNELL Tribune Business Editor The Auditor-General is being "robbed of administrative independence" because he cannot initiate prosecutions where corruption and fraud involving public monies is suspected, a Public Accounts Committee report noti
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Water Corp cuts debt to main supplier by $5.2m
The Water & Sewerage Corporation’s debt to its main BISX-listed supplier was slashed by 24 percent during 2022 to $16.3m at year-end, although close to two-thirds of that sum remained delinquent.
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Liquidator readies control plan for Alliance accounts
Liquidators for an alleged $340 million Ponzi scheme are planning to apply to the Supreme Court for permission to gain control over six accounts they have been denied access to by a BISX-listed firm’s broker/dealer affiliate.
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Former bank supervisor guilty
A FORMER bank supervisor yesterday admitted stealing over $35,000 from customer accounts to help pay her own bills.
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Bahamas Institute of Chartered Accountants' suspension lifted
THE Bahamas Institute of Chartered Accountants’ (BICA/the Institute) suspension from the International Federation of Accountants (IFAC/the Federation) has been lifted, BICA’s president announced yesterday.
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BICA UNVEILS LATEST SEMINAR
The Bahamas Institute of Chartered Accountants (BICA), in conjunction with regional affiliates - the Institute of Chartered Accountants of the Caribbean (ICAC) and the Certified General Accountants Association (CGA) of the Caribbean - has unveiled its th
