Bahamians charged over alleged $500m laundering
US authorities are seeking to extradite two Bahamians from Belize, after charging them with helping to facilitate an alleged $500 million securities fraud and money laundering scheme.
Law changes boost NIB contributions over benefits outlay
The National Insurance Board’s (NIB) benefits spending would likely have exceeded its 2013 contribution income had it not been for changes mandating increased payments by civil servants and tipped hotel workers.
Gov't told: Abandon VAT on e-commerce
The Government is being urged to abandon plans to levy Value-Added Tax (VAT) on e-commerce transactions, and thereby avoid “stepping over dollars to get pennies”.
Inclusive pricing 'paramount' for VAT consumer protection
A Bahamian fraud expert yesterday backed calls for the Government to revert to Value-Added Tax (VAT) ‘exclusive pricing’, arguing that it would boost transparency and “business accountability”.
Business Licence boost from property landlords
The Government may receive an unexpected revenue windfall from rental property landlords, who are now rushing to comply with Business Licence Act amendments.
Chamber blasts union strike as 'unpatriotic'
Private sector executives yesterday blasted the Trade Union Congress (TUC) organised labour strikes as “unreasonable” and “unpatriotic”, given the weak economic environment.
Bahamas to become stem cell 'pacesetter'
The Bahamas is poised to become a world “pacesetter” in stem cell therapy and research, the Health Minister said yesterday, with the potential benefits to sports medicine and medical tourism likely to be “very significant”.
ART OF GRAPHIX: Face up to Internet presence necessity
Many small business owners believe their company will not benefit from having a website due to its size, or possibly because of their inability to use a computer.
Comfort Suites gains award for third consecutive year
Comfort Suites Paradise Island is celebrating its third consecutive TripAdvisor Certificate of Excellence.
Gaming reforms to spark 200,000 visitor increase
The Bahamas is forecast to receive an extra 200,000 visitors per year as a result of reforms to casino gaming legislation, a Cabinet minister said yesterday.
Finlaysons reduce ABDAB stake for pension peace
The Finlayson family has “watered down” their equity in Associated Bahamian Distillers and Brewers (ABDAB) to better secure the $4.7 million liability to City Markets pension plan beneficiaries, describing this as “the best solution for everyone involved”.
Foreign control of downtown Nassau ‘would be obscene’
The Opposition’s finance spokesman yesterday said it would be “a bit obscene” for any foreign entity or government to control downtown Nassau’s redevelopment, reiterating that the Bahamas needed to guard against “FDI concentration”.
Gov't urged: Stop throwing VAT info 'hand grenades'
The Government was yesterday warned that throwing out “information hand grenades” without a supporting education platform in place was leading to the spread of dangerous “misinformation” on Value-Added Tax (VAT).
Pre-existing contract confusion sparks VAT 'inclusive price' call
A Tax Coalition co-chair last night said the confusion over whether vendors would have to pay Value-Added Tax (VAT) on pre-existing contracts if clients refused was one reason why the private sector wanted to go back to ‘exclusive pricing’ for the tax.
Ex-City Markets head office needs $12-$14m upgrade
A $12-$14 million investment is needed to transform the former City Markets head office into a commercial office building suitable for rent, after efforts to find a buyer proved “virtually impossible”.
