Govt 'hard ball' over web shops
The Gaming Bill and accompanying regulatory package fails to address the multi-million dollar ‘parallel banking system’ created by a web shop industry that is unlikely to “suddenly give that up”, Tribune Business was told yesterday.
Credit union poised for a 'banner year'
A well-known credit union yesterday said it was poised for another “banner year” in 2014, despite a Central Bank of the Bahamas report noting that the overall economic climate meant key indicators of the sector’s health had “shown signs of weakening” last year.
'Surprise' Gaming Bill passed before bank OK
The Free National Movement’s (FNM) finance spokesman said yesterday he was “very surprised” that the Christie administration had moved ahead with the Gaming Bill despite still consulting the Central Bank and the Clearing Bank Association on the reforms.
Web shops 'one step' in tackling informal economy
The Gaming Bill’s legalisation of web shops was yesterday described by a leading private sector executive as just “one step” in a much-needed effort to tackle the informal economy.
MARKETING REVOLUTION: 'Delight' in repeat customer business
My old boss Ron Johnson used to say: “The goal of being in business is not just to keep customers, but to keep customers for a long time. And the only way you can do that is to delight your customer.”
Credit unions focus 73% of lending on consumers
Bahamian credit unions have concentrated more than two-thirds of their lending in “small scale consumer purchases”, with the sector’s delinquency ratio ending 2013 some two percentage points higher than international benchmarks.
Regulation ‘suspicions’ delay oil explorer’s JV partner search
The Bahamas Petroleum Company’s (BPC) efforts to secure a joint venture exploration partner have been hit by increasing “suspicions” over the Government’s delay in releasing the new regulatory platform for the sector, it was revealed yesterday.
Chamber chairman fears NHI disposable income wipe-out
The proposed National Health Insurance (NHI) scheme’s financing mechanism could wipe out Bahamians’ disposable income and “hurt the economy”, the Chamber of Commerce’s chairman warned yesterday.
Gov’t permits multiple web shop equity stakes
Web shop owners will be allowed to hold an equity interest in more than one legalised operator, even though the Government wishes to see ownership that is “as broad-based as possible”.
Auto dealer: VAT driving ‘high-end’ 12% sales surge
A Bahamian auto dealer said yesterday that a 12 per cent year-over-year increase in sales of his high-end vehicles was likely being driven by a pre-Value-Added Tax (VAT) rush, adding that he was “a little concerned” that trend would be shortlived.
Gov't told: 'Stop buck passing' on Nassau harbour boardwalk
An ex-Deputy Prime Minister has urged the Government to “stop buck passing” and decide final plans for Nassau’s harbourfront boardwalk, a project deemed “critical” to better distributing cruise tourists along Bay Street.
Gov't 'undecided' over Freeport services VAT
The Opposition’s finance spokesman says the Government is yet to decide whether to levy Value-Added Tax (VAT) on services transactions between Grand Bahama Port Authority licensees, a situation he branded as “crazy”.
'Confusion' between VAT law, guidance must be eliminated
A Tax Coalition co-chair has called for apparent differences between the Value-Added Tax (VAT) legislation and ‘guidance notes’ to be “resolved”, agreeing that there was “confusion between the two”.
VAT to put dive boats, charters 'out of business'
A Tax Coalition co-chair has expressed concern that Value-Added Tax (VAT) could make Bahamian tour/dive boat operators and charter companies uncompetitive against international rivals and “put them out of business”.
PM meets RBC over web shops
Prime Minister Perry Christie met Royal Bank of Canada (RBC) on Friday to discuss web shop gaming, with a Cabinet Minister pledging the Government “can’t at all compromise” the financial services industry’s integrity.
