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Inflation to wipe VAT cut savings
Rising inflationary pressures could wipe out any consumer savings generated by the VAT rate being cut to 10 percent, a supermarket executive warned yesterday.
VAT reduction ‘has been implemented smoothly’
ECONOMIC Affairs Minister Michael Halkitis says the reduction in value added tax to ten percent has been implemented smoothly across the country.
Parties united in concern over Grand Bahama power rates
FREE National Movement leader Michael Pintard says an increase in electricity rates on Grand Bahama is inconsiderate and worrisome and would only hamper efforts to strengthen the island’s economy.
VAT slash ‘not reckless’ as revenues up $160m
The Ministry of Finance’s top official yesterday said the VAT rate cut “is not a reckless, populist act” as he revealed the Government has outperformed first half revenue targets by $160m.
Electricity rate hike ‘blow’ to GB revival
The Free National Movement (FNM) last night branded approval of Grand Bahama Power Company’s base rate increase as “counter productive” for making it more difficult to attract investment.
Dorian-hit islands slam VAT change as ‘short-sighted’
The Government’s assertion that reimposing VAT on construction services in Dorian-hit islands will only hurt a “minority” of wealthy homeowners was yesterday blasted as “short sighted”.
Parties united against GBPC rate rise
DESPITE regulatory approval for a rate increase in the cost of electricity in Grand Bahama, the government and the official opposition do not believe it is a good time as the island’s economy is still struggling to recover.
Construction VAT silence branded ‘unconscionable’
Abaco’s Chamber of Commerce president yesterday said it was “unconscionable” that the Government had yet to reverse VAT’s return on construction services, adding: “There’s a lot of angry people here.”
Dorian rebuild in question for 98% on tax break loss
Some 98 percent of business and home owners in Dorian-devastated Abaco say reinstating 10 percent VAT on construction services will “significantly influence” whether they rebuild or not.
