Second Baha Mar SPV asset transfer
Baha Mar’s receivers and liquidators have left “no stone unturned” in their hunt for assets, quietly transferring a second tranche to the project’s secured creditor in December 2016.
Fiscal deficit expands 75%
The Government’s fiscal deficit for the first four months of 2016-2017 increased by 75.3 per cent to $157.5 million, blowing past the full-year target of $100 million with two-thirds of the Budget period still to go.
Bahamas ‘going backwards’ over government size
The Bahamas is “going backwards” because the $1 billion-plus Value-Added Tax (VAT) revenues are being used incorrectly in expanding the size of government, the Democratic National Alliance’s (DNA) leader charged yesterday.
NHI launch ‘almost impossible’ without electronic records
The proper implementation of National Health Insurance’s (NHI) $100 million primary care phase is “almost impossible” without electronic medical records, the Medical Association of the Bahamas (MAB) president warned yesterday.
Baha Mar construction finish to require $400m
Baha Mar’s construction completion will cost some $400 million, the Central Bank said last night, with around 95 per cent of the project’s full-time employees to be Bahamian.
Customs: Enforcement drives revenue target hit
The Customs Comptroller yesterday said his department had met its increased Budget revenue targets largely due to enforcement, adding that it will now place heavy emphasis on post-clearance audits.
$3bn added to national debt without VAT
A Cabinet minister yesterday said $3 billion could have “easily” been added to the Bahamian national debt had the Christie administration not introduced Value-Added Tax (VAT).
Govt praises $13m Customs upgrade
Government and Customs officials yesterday hailed as a “significant milestone” the signing of a $13 million contract to create the department’s Electronic Single Window (ESW), an initiative that is expected to further reduce the clearance time for imported goods.
BOB warns preference investors: No dividend
Bank of the Bahamas has thrown the Bahamian capital markets into confusion after informing its preference shareholders that the Government will not be paying their customary year-end dividend on its behalf.
$100m NHI launch pushed back to May
The launch date for the National Health Insurance (NHI) scheme’s $100 million primary care phase has been pushed back to May 2017, Tribune Business can reveal.
Chamber chief calls for ‘more maturity’ over VAT debate
All political parties have been urged to behave “in a more mature manner” over the Value-Added Tax (VAT) debate, the Chamber’s chairman warning that the credit rating agencies might draw “unflattering conclusions” from their recent assertions.
Realtor alarm at CAM inclusion in Business Licenses
The private sector is seeking “across the board consistency” in tax policy application, after the real estate industry became the latest sector to raise Business License-related concerns.
Courts urged: Determine Crown Land consult duty
Opponents of the Abaco Club’s proposed Little Harbour marina project are arguing that the case “raises issues of great public importance”, especially whether the law mandates consultation on granting/leasing Crown Land to developers.
BOB travails undermine bank regulatory regime
Bank of The Bahamas’ travails have undermined this nation’s banking regulatory regime, one of its minority shareholders arguing that the BISX-listed institution now represents a classic case of “poor corporate governance”.
Bahamas ‘put on map for birding tourism’
The Bahamas is being “put on the map” for bird tourism, and is poised to tap into a multi-billion dollar niche market through the arrival of its first nine advanced bird guides.
