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FOCOL Holdings chairman yesterday voiced optimism that "anyone who wants to buy diesel on this island can get it" even though "the majority" of petroleum retailers were said to have stopped sales of this fuel.
Super Value's president says that, while profit-based taxation "would be favourable" for food retailers, the Government must first prioritise the ease of doing business because "things aren't flowing like they should".
Sunday, 28th May, 2023.
Bahamian business owners yesterday admitted to feeling "some anxiety" over today's Budget as the Davis administration was urged to prioritise ease of doing business reforms to generate faster economic growth.
A prominent banker yesterday asserted it was no accident that the Government released its corporate income tax 'green paper' just days before the Budget, adding: "It needs to increase its revenue base."
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The Government's corporate income tax consultation will be "dead on arrival" if it does not involve a "holistic" approach to comprehensive Bahamian tax reform, a prominent banker warned yesterday.
Renewable energy providers yesterday voiced significant "doubts" that The Bahamas will meet its 2030 goals after this nation was found to have the lowest penetration in the Caribbean at just 2 percent.
A web shop principal yesterday argued that The Bahamas must do more to capitalise on its renewable energy sources as companies brace for up to 163 percent increases in Bahamas Power & Light's (BPL) fuel charge this summer.
The Government is launching its "most co-ordinated effort" ever to crackdown on tax cheats with its success in collecting hundreds of millions in outstanding revenue critical to avoiding "increased tax rates".
The Ministry of Finance's top official yesterday said insurers are "over reacting" to the consultation on holding a "minimum" 50 percent of their investments in government securities as he refuted fears it is "desperate for funds".
The Bahamas needs "just one spark" to re-establish itself as a major player in the multi-billion captive insurance industry and help "stabilise the middle class", a local operator is asserting.
The Opposition's finance spokesman yesterday argued that The Bahamas has corporate income tax "the wrong way around" because the proposed reform options are forecast to suck "more money" from the private sector via taxation.
The Ministry of Finance's top official yesterday asserted he is "very confident" the Government will increase revenues by $400m year-over-year, and slash its fiscal deficit by 75 percent, in the absence of new and/or increased taxes.
FOCOL Holdings could have raised "far more" than the $16m received in Monday's preference share offering, its chairman said yesterday, as it moves into an accelerated "growth mode".
Bahamians could "see a totally different economy" if the decision by most petroleum dealers to halt diesel sales lasts for up to two weeks, a well-known contractor warned yesterday.
Bahamian petroleum dealers yesterday argued that '"a short-term injection doesn't alleviate the problem" of fixed margins after a Cabinet minister disclosed the Government provided $6m in "relief" to the industry last year.
Abaco's Chamber of Commerce has issued a fact sheet to the island's employers to address the "huge issue" of work permit and labour law violations.
The Nassau Paradise Island Promotion Board's (NPIPB) chief executive says there has been a 67 percent year-over-year jump in visitor traffic to its website as it works to convert this increase into actual visitors.
The Prime Minister's decision to put the Grand Bahama Port Authority's (GBPA) owners on notice that he plans to take "decisive action" to halt Freeport's two-decade decline yesterday provoked mixed reactions from residents and politicians.