Gov’t eyes $9m tax boost from $40m islands’ deal
The Government is poised to enjoy a $9m-plus real property tax boost from the sale of four private islands in the Exuma cays which have been caught up in an acrimonious legal battle.
‘No brainer’: Corporate tax hit to Shell’s $1.6bn Bahamas profits
The Attorney General yesterday confirmed that Shell’s Bahamian subsidiary, which generated $1.6bn in pre-tax profits in 2023, will be subject to 15 percent corporate income tax on those earnings in future.
Fishing frustration on ocean conservation
Bahamian fishermen yesterday voiced frustration that they have largely been cut out of efforts to preserve and sustain this nation's marine environment.
Foreign real estate purchases BIA’s ‘first phase’ digitisation
The Government’s investments chief yesterday revealed that mandating all foreign real estate purchase applications be submitted online is just the “first phase” paving the way for wider digital-based reforms.
Bahamas First’s ratings upheld by top assessor
Bahamas First and its subsidiaries have seen their creditworthiness and financial strength reaffirmed by the global insurance industry’s top rating agency despite recent “challenges” to operational performance.
NAD: Traveller volumes to ‘slightly trail’ record 2023
Lynden Pindling International Airport’s (LPIA) operator yesterday disclosed that passenger numbers for the 2024 holiday season may “slightly trail” last year’s record performance.
Global pilot body bids to avert ‘tourism catastrophe’
The world’s largest private pilot body is renewing warnings of “a tourism catastrophe in The Bahamas” over recently-implemented fee increases that have prompted aviators to discuss “boycotting” this nation.
Liquidators target ArawakX principals’ ‘personal assets’
Liquidators for The Bahamas’ first-ever crowd-funding platform have signalled they plan to target its principals’ “personal assets” to aid creditors who have “no likelihood of... any payment” on $2m-plus in claims.
Hope $300m deal ‘opens door’ on nature financing
Environmental advocates are voicing hope that the Government’s first $300m ‘debt-for-nature’ refinancing will “open the door” for further such initiatives “to propel” The Bahamas towards true climate resiliency.
Minister: ‘Pluses and minuses’ on percentage-based fuel margins
A Cabinet minister has confirmed the Government explored moving petroleum retailers from a fixed to percentage-based margin while revealing no proposal for a similar increase has come from wholesalers.
Private security firms told to ‘professionalise’
A Ministry of National Security official has called for the private security industry to “professionalise” and raise its standards so as to attract higher-calibre recruits to the sector.
Pintard challenges Gov’t over $203m draw down
The Opposition’s leader yesterday challenged whether the Government would have had to refinance $300m via its ‘debt-for-nature’ deal if it had not previously used assets set aside for this purpose.
Minister: Tax rises are ‘off the table’
A Cabinet minister has reiterated that tax increases are “off the table” while voicing confidence that the Government’s 50 percent debt-to-target will be met by 2031 through economic growth.
Gov’t urged: ‘Step it up’ on private security weapons
Private security firms are urging the Government to “step it up a bit” and examine the law and regulations governing whether they can use firearms and non-lethal weapons to protect themselves and clients.
$300m refinance set to boost 6.8m hectare MPAs oversight
The Bahamas National Trust (BNT) says the proceeds generated by the Government’s $300m debt-for-nature refinancing will help it and others to better manage the 6.8m-hectare Marine Protected Areas (MPAs).
