VAT ‘sucks out’ 33% of new auto sales
New car sales for the 2015 first quarter fell 33 per cent year-over-year, with the Bahamas Motor Dealers Association’s (BMDA) president blaming Value-Added Tax (VAT) for “sucking a lot of potential out of the market.”
AML earnings warning: VAT’s ‘put us back’
AML Foods yesterday warned that earnings for its current financial will be hit by Value-Added Tax’s (VAT) impact on consumer spending, with a 2 per cent sales decline year-to-date having “put us back a few steps”.
Matching ‘spelling errors’ exposed copyright breach
A former employee at a Grand Bahama-based business violated its intellectual property rights by copying its design for a 950-pound septic tank and using it for a rival business he “became involved with”.
Regulator accuses broker, principal of ‘gaming system’
US federal regulators have moved quickly to prevent attorneys for a former Bahamian broker/dealer and its principal ceasing to represent them in two New York court cases, alleging they are “gaming the system” to evade producing critical evidence.
Fire-ravaged firm ‘fully operational’ inside 12 months
A Mount Pleasant-based business that was ravaged by fire last year yesterday said it expects to be “back up and fully operational” by mid-May, its recovery having taken less than 12 months.
More Gov’t consistency on investments urged
A top private sector executive yesterday urged the Government to be more consistent with the incentives and support it provided to major development projects.
Concerns over ‘bloated’ government workforce
The Government must ensure there are a greater number of highly-skilled employees within the public sector, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman said yesterday.
Payment row caused Baha Mar ‘slow down’
The Government has intervened in the row between Baha Mar and its main contractor, amid suggestions that China Construction America slowed down its work rate in the run-up to the planned March 27 opening due to a payment dispute.
BTC: ‘No preference’ on first mobile rival
The Bahamas Telecommunications Company (BTC) has “no preference” as to who wins the battle to become its first mobile rival, although its post-liberalisation strategy will be determined by the winner’s identity.
Civil service skills woe used to back ‘PLP crony’ hires
A trade union leader has slammed assertions that just 1 per cent of the civil service is highly skilled, accusing the Government of using this to justify handing jobs to “PLP cronies”.
Broker’s principal admits defeat in battles with SEC
The principal of a now-defunct Bahamian broker/dealer has conceded defeat in his legal battle with US federal regulators, and is now exposed to summary judgments he cannot pay.
Project to unlock handicraft sector being squandered
An award-winning electronic platform intended to unlock $6 million in annual sales for Bahamian indigenous “treasure” is in danger of being squandered, its key architect has warned.
Bahamians sceptical on VAT revenue use
Many Bahamians are sceptical the Government will keep its promise to use Value-Added Tax (VAT) revenue to reduce the country’s deficit and $6 billion-plus national debt, according to a study conducted by College of The Bahamas (COB) students.
Chambers ready position paper for Gov’t handover
Bahamian Chamber of Commerce leaders have compiled a list of concerns that will be presented to the Government via a position paper within the next two weeks, Tribune Business has been told.
‘Be honest if you want to play ball’
The private sector has been urged not to negatively interpret the director of labour’s comments about “employer hiring tricks”.
