High-end real estate’s VAT underperform ‘shocking’
The Prime Minister’s assertion that the Government has collected just 8 percent of its VAT target for high-end real estate sales was yesterday branded “shocking” by industry professionals.
Key tax arrears jump 31% to hit $1.325bn
Total tax arrears due to the Government from three key revenue streams increased by 31 percent to $1.325bn during the nine months to end-March 2024, it was revealed yesterday.
Permanent residency reform labelled ‘huge’
Realtors and attorneys yesterday praised the Government’s “huge” move in raising the economic permanent residence threshold to $1m and diversifying how wealthy foreign investors can qualify.
Manufacturers hail Customs bond end
Manufacturers yesterday hailed the Government’s decision to eliminate the Customs bond and 45 percent machine parts duty as “a huge benefit” that will help them compete on a more “level playing field”.
Investment of $1m needed for economic permanent residence
THE cost of economic permanent residence will change from at least $750,000 in real estate investments to $1m in real estate investments or the purchase of zero coupon bonds from the Central Bank.
Recreational watercraft bill adds citizenship requirement
THE Davis administration yesterday tabled legislation that would transform the commercial watercraft industry and allow Bahamians to get the maximum benefit from the nation’s tourism industry.
The eProcurement platform has saved govt $16.5m, says Davis
PRIME Minister Philip “Brave” Davis said the government had saved $16.5m through its eProcurement platform, GoBonfire.
Govt set to invest $12m to help UB gain accreditation
THE Davis administration will invest $12m to help the University of The Bahamas gain long-sought accreditations.
Davis: Public service workers salaries will be reviewed again
EVEN after compensation for public service workers increased by $35m this fiscal year, Prime Minister Philip “Brave” Davis said “salaries are too low” in the sector, and the government will perform a salary review to boost wages.
Road Traffic Amendment to restrict licensing of vehicles with under six months valid insurance
INSURANCE policies that are valid for less than six months cannot be used to licence vehicles when amendments to the Road Traffic Act take effect on January 1, 2025.
Mixed reactions from Grand Bahama residents on govt proposal to buy the International Bazaar for $30m
PRIME Minister Philip “Brave” Davis’ announcement yesterday that the government will spend $30m to acquire the International Bazaar received mixed reactions from business people and residents of Grand Bahama.
Budget increases for 21 govt agencies, including $7m increase for consultancy
CONSULTANCY services fees in the Ministry of Finance will increase by 35 per cent in the next fiscal year.
FNM ‘underwhelmed and disappointed’ over PM’s budget communication
THE Free National Movement is underwhelmed and disappointed by Prime Minister Philip “Brave” Davis’ budget communication, with the party’s leader, Michael Pintard, calling it much worse than last year’s speech.
Scepticism greets Govt’s 1-1.5% deficit projection
Fiscal analysts and the Opposition yesterday voiced scepticism that the Government will hit its revised deficit target range of $146m-$219m for the current fiscal 2023-2024 fiscal year.
Budget short on 'changing status quo'
CHANGING the status quo was the big phrase in the Prime Minister’s Budget Communication – so much so that it was the headline when the Office of the Prime Minister posted the speech online later in the day.
Ceasefire is wishful thinking
Over the past week two columnists, Alicia Wallace and Peter Young have written about the war in Gaza.
National service is not a new thing
Haven’t gone through most of this day’s daily and something got my attention on page nine, under the theme “General election in Britain in July”.
Bushfire claim is not accurate
All Coral Harbour residents, including some Ministers, who he could have consulted and long-time residents will vouch year in year out the pine forest along the Coral Harbour Road catches afire
BUDGET COMMUNICATION 2024/2025: Key Budget measures
As he outlined key budget measures, Mr Davis underscored the 2024/2025 Budget has no new taxes, with some adjustments made to fees on government services where the cost of providing that service has increased.
BUDGET COMMUNICATION 2024/2025: Revenue Performance Highlights
As he turned to the Nine-Month Fiscal Performance for FY2023/24, Mr Davis says total revenue for the first three quarters of the 2023/2024 fiscal year amounted to $2.2bn.
