‘No surprise’ Trump rejects 15% global corporate tax
A Cabinet minister last night asserted it was “no surprise” that Donald Trump has withdrawn the US from the 15 percent minimum global corporate tax amid fears this move may hit The Bahamas’ competitiveness.
‘No magic bullet’ can solve Bahamian housing crisis
A prominent developer yesterday warned “there is no one magic bullet” for resolving The Bahamas’ housing crisis as he urged market participants to “put everything on the table” in searching for a solution.
‘Penny wise, pound foolish’ fear on capital spend cuts
The Government was yesterday warned not to be “penny wise and pound foolish” by cutting expenditure on vital infrastructure projects simply to ensure it meets its annual fiscal deficit targets.
Training initiative to fight ‘unscrupulous’ practices
A newly-launched cadet training programme aims to empower Bahamian youth and boost this nation’s food security, it was disclosed yesterday.
Gov’t to speed up electricity service for Potters Cay dock
The Government yesterday said it is seeking to speed up the provision of electricity to Potters Cay dock in a bid to to improve both infrastructure and safety following recent fires at that location and Arawak Cay.
Banks are ‘not making killing’ despite region’s top spreads
Bahamian commercial banks enjoy the highest interest rate spreads in the Caribbean but this does not necessarily mean they are “making a killing” on profits, a senior executive argued yesterday.
IMF: Bahamas’ debt ‘distress high risk’ with no new taxes
The Bahamas faces a “high risk of sovereign [debt] stress” as it continues to reject proposed International Monetary Fund (IMF) reforms such as imposing a personal income tax on the top 10 percent of earners.
‘Business ease fix just not so simple’
Discussions on improving The Bahamas’ ‘ease of doing business’ are “hopelessly simplistic”, Arawak Homes chairman is arguing, with the conduct of commerce set to become “more complex, not less”.
IMF: Gov’t maxed out on Central Bank borrowings
The Government had maxed out its legal ability to borrow from the Central Bank as at October 2024, the IMF has revealed, due to increased reliance on this funding source with private capital deployed elsewhere.
IMF: Property and rental rates outpaced wages growth
Property prices and rental rates outpaced growth in Bahamian wages seven-fold during the decade to 2022 to deepen the housing affordability crisis, the International Monetary Fund (IMF) has revealed.
Gov’t ‘wipes away hundreds of millions in property tax arrears’
The Ministry of Finance’s top official yesterday said the Government has “wiped away hundreds of millions in real property tax arrears” as he branded this nation’s tax system “the most competitive in the Caribbean”.
Bahamas ‘going in reverse’ through 20% cash increase
The Bahamas is “going in reverse” by increasing physical cash in circulation by 20 percent, a digital payments provider argued yesterday, even though its Sand Dollar roll-out is “the model for the rest of the world”.
Tax collection is too ‘combative’
Tax collection in The Bahamas is a “combative experience” where businesses are treated as “frauds” if they interpret the rules differently from the Government, a senior banker argued yesterday.
Just 20% compliance by short-term rentals
Dexter Fernander, the Department of Inland Revenue’s (DIR) operations manager, said they have seen a 20 percent voluntary compliance rate from short-term rental owners in registering their businesses and obtaining the necessary licences.
US and China battle on Bahamas investments
The top US and Chinese diplomats in The Bahamas yesterday exposed the increasing geopolitical tensions set to impact this nation after the latter encouraged it to sign on to Beijing’s multi-billion global infrastructure initiative.
