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Super Value chief in VAT ‘exclusive’ push
* Blames ‘inclusive’ switch for 10% sales fall * Plans to ‘go back at Gov’t’ over issue * ‘We don’t have to be contrary to world’
SUPER Value’s owner yesterday said will appeal to government for permission to revert to Value Added Tax (VAT) ‘exclusive’ pricing, blaming the switch for this year’s 10 per cent sales decline. Rupert Roberts, while likely reigniting the ‘inclusive’ versus ‘exclusive’ VAT pricing debate, told Tribune Business that Super Value’s 2017 top-line had seen a marked decline in comparison to the two years prior, during which time the food store chain had used VAT ‘exclusive’ pricing.
PM: ‘No time to rest on laurels’ over EU
THE Prime Minister yesterday said the Bahamas has “no time to rest on our laurels”, given the European Union’s (EU) concerns over the absence of corporate income taxation. Dr Hubert Minnis told the House of Assembly that the EU’s Code of Conduct group had written to the Government expressing concerns that this nation’s tax system did not comply with its ‘blacklisting’ criteria.
Bahamian retailers hit by ‘showroom effect’
BAHAMIAN retailers yesterday said they have fallen victim to the “showroom effect” with consumers using them as ‘fitting rooms’ before purchasing online.
Nassau/PI resorts in New Year sell-out
MAJOR Nassau/Paradise Island resorts are predicting traditionally strong occupancies over the Christmas and New Year’s holiday period.
All ‘milestones’ come Aliv for mobile player
The Bahamas’ second mobile operator said yesterday it had met all “milestones and obligations” for cellular coverage and infrastructure roll-out as required by its license, its sales and marketing head arguing it has “the best network in the Caribbean”.
QC tells the web shops: Form own credit union
A prominent QC has called on web shop gaming operators to establish their own credit union, as blasted the Canadian-owned banks’ refusal to accept the sector’s deposits as making “no sense whatsoever”.
Govt targets extra $40-$80m revenue from enforcement
The Government is targeting an extra $40-$80 million in additional revenue over the next six to 12 months as it pursues an enhanced enforcement/compliance strategy, a Cabinet minister said yesterday.
Hutchison ‘streamlines’ Freeport investments
The sales process for the 409-acre Grand Lucayan property on Grand Bahama is “still ongoing”, Prime Minister Perry Christie said yesterday.
‘Much work’ ahead over business ease
The Bahamas has “a lot of work to do” before it sees a dramatic improvement in the ease of doing business, the Opposition’s finance spokesman said yesterday, adding: “There’s just too much government bureaucracy.”
Fishermen: Gov't late on storm relief
Bahamian fishermen are hoping the Government will give further thought to their cry for fuel concessions, one representative telling this newspaper: “That would go a long way to helping the industry”.
‘Nothing to celebrate’ on $99m borrowing
The Opposition yesterday argued there was “nothing to celebrate” in the Christie administration’s revelation that it is only borrowing $99 million to fund the 2016-2017 fiscal deficit, its finance spokesman saying it had over-burdened Bahamians with taxes to achieve this.
Web shop gains 'stay' on closure
The only web shop operator to be denied a licence has obtained a stay of the Supreme Court decision that effectively paved the way for its closure two weeks ago.
Bahamas must get balanced tourism
The Bahamas must ensure it strikes the right balance between its cruise and stop-over business, the FNM's deputy leader reiterating that it provide a competitive and unique product.
MSC deal to give Bahamian company ‘widest ever smile’
The Bahamian leaseholder of Ocean Cay will have “the biggest smiles ever” as a result of the deal that will see Mediterranean Shipping Company (MSC) take over the island for its $100 million cruise port.
‘Bleak’ Xmas start for many retailers
Bahamian retailers yesterday described early Christmas season sales as “slow” and “bleak”, but expressed optimism they will see a major pick-up over the next week.
App founders target full mobile commerce
The founders of a recently-launched mobile application which provides one-click access to commercial, Government and non-profit organisation communication channels, aim to eventually offer full mobile commerce.
Cotton Bay developer: ‘Open up’ work permits
Prime Minister Perry Christie yesterday said the developers behind the proposed Four Seasons resort project at Cotton Bay had asked the Government to “open up on work permits”, so the development could maintain the brand’s standards.
Climate change exacerbates Bahamas’ major challenges
CLIMATE change is exacerbating the Bahamas’ challenges with food security, water scarcity and energy security, the Prime Minister said yesterday, over an issue that threatens this nation’s land mass.
Excise Tax snafu stymies start-up's 60 hires plan
A Bahamian-owned tobacco manufacturing start-up said yesterday it would pursue legal action as a “last resort” if it is unable to obtain an Excise Tax exemption on domestic sales, adding that its business model had been thrown “totally out of whack”.
'Seven digit' Atlantisinvestment delayed bygaming reform wait
Atlantis’s top executive yesterday said its planned multi-million dollar, “seven digit” investment in private gaming rooms was being delayed by the wait for casino gaming reforms to be passed.
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