'Bitter pill to swallow' for web shop industry
Web shop operators are “uncomfortable” that they have to make a full financial disclosure on their businesses during the transition to regulation despite having no guarantee they will obtain a licence to continue operating.
Cable: URCA in 'uncharted waters' over price caps
Cable Bahamas has warned regulators they will be “in uncharted waters” by proceeding with implementing price caps on its pay-TV and broadband Internet services, arguing that the latter’s costs had dropped by up to 45 per cent in the past two years.
Tax credits 'much simpler' than Gov't virtual warehouse
A Tax Coalition co-chair believes ‘tax credits’ would be a “much simpler” system to ease the Value-Added Tax (VAT) transition than the Government’s proposed ‘virtual warehouses’, and called for the ‘bonded period’ to be longer than two months.
Bran promises Balanced Budget Act if elected
Branville McCartney has promised that the Democratic National Alliance (DNA) will pass a Balanced Budget Act if elected to office, and privatise all loss-making government corporations.
Boutique hotel to open early 2015
The Holowesko family’s 30-room boutique hotel, under construction in western New Providence, is progressing smoothly towards an early 2015 opening, says project manager Lauren Holowesko.
D'Aguilar says latest downgrade 'inevitable'
Moody’s latest downgrade of the Bahamas’ creditworthiness was “inevitable”, a well-known businessman believes, adding that Value-Added Tax (VAT) will reduce - but not eliminate - this nation’s fiscal deficit.
Standards Bureau a Haiti trade 'catalyst'
Establishing a Standards Bureau will be a “catalyst” to future business and trade between the Bahamas and Haiti, a senior Chamber of Commerce executive believes, as the organisation gears up to lead a trade mission to that nation.
Chamber chief: BEC generation winner has to match our findings
The winning generation bidder on the Bahamas Electricity Corporation (BEC) restructuring must supply power at $0.22 kilowatts per hour or less, a private sector body is urging, while again slamming the process’s “secretive” nature.
Two-month window until pre-VAT invoices taxable
Bahamian companies will have two months to raise invoices for goods and services supplied prior to Value-Added Tax’s (VAT) introduction, otherwise these transactions will be deemed subject to the 7.5 per cent levy.
Top auto dealer to cut inventory 25%
A leading auto dealer yesterday said he would “cut back” early 2015 inventory levels by 25 per cent due to VAT-related uncertainty, anticipating that sales might drop by 20 per cent.
Christie Gov't told 2 years ago: fulfill $30m CLICO pledge
The Christie administration was urged within three months of taking office to fulfill the Government’s pledged $30 million guarantee to underwrite the sale of CLICO (Bahamas) remaining insurance portfolio, thereby securing the financial future of thousands of policyholders.
$10m Rose Island 'special project' to open November
A $10 million “special projects destination” on Rose Island, featuring a 12-room resort, is expected to launch in early November.
Gov't developing 'virtual warehouses' for VAT transition
The Government is developing a ‘virtual bonded warehouse’ concept to ease the Value-Added Tax (VAT) transition for businesses with large physical goods inventories, with private sector leaders yesterday urging “some give and take” from both sides.
Gov’t ‘lightens VAT blow’ for auto industry
The Government yesterday moved to “lighten the Value-Added Tax (VAT) blow” for the auto industry, telling dealers it would narrow their Excise Tax base and permit the ‘deferred’ payment of VAT due at the border.
Public transport a 'major failing'
New Providence’s public transport system was yesterday described as a “major failing”, with the Government advancing its efforts to determine the collective worth of all jitney franchises and update plans for a unified busing system.
