Gov't may lose 10% of VAT revenues to fraud
The Government could lose 10 per cent of its Value-Added Tax (VAT) revenues to fraud in the months immediately after its implementation unless it moves now to eliminate potential “loopholes”, a local expert has warned.
BTC eyes Haiti mobile market
The Bahamas Telecommunications Company (BTC) is still aiming to enter Haiti’s cellular market, its chief executive confirmed yesterday, arguing that the carrier would effectively be “dead in the water” if it did not expand outside this jurisdiction.
BTC broke law on exclusive phone card agreements
The Bahamas Telecommunications Company (BTC) was yesterday fined $243,442 after regulators determined its ‘exclusive’ phone card supply agreements broke the law, excluding rivals from up to 60 per cent of the market.
'Don't bite more than we can chew' with website VAT
The Bahamas was yesterday urged to “not bite off more than we can chew” on Value-Added Tax (VAT) enforcement, as blocking access to overseas e-commerce websites was simply not practical.
Web shop chief: Haitian market ‘mind boggling’
A leading web shop operator yesterday said his business experience in Haiti had been “nothing short of amazing”, as the Bahamas’ southern neighbour offered a “mind boggling” 14 million players and has proven “very lucrative” for online gaming.
Caribbean telecoms forum at Atlantis
The Caribbean Association of National Telecommunications Organidations (CANTO) will hold its 30th anniversary annual conference and trade exhibition at Atlantis from August 10-15.
Nassau Flight executives given Baha Mar exposure
Baha Mar’s project coordinator, Alex Haley, shows executives from Nassau Flight Servicess VIP Department the layout of the $3.5 billion Baha Mar resort.
BTC chief 'quite aware' of URCA ruling reverse
The Bahamas Telecommunications Company’s (BTC) chief executive yesterday said he was “quite aware” of the $243,000plus fine slapped on the company by the Utilities Regulation and Competition Authority (URCA), but declined to comment further.
MARKETING REVOLUTION: Product branding for a great event
IrnBru by Barr is a type of soda that I had never heard of prior to coming to the Commonwealth Games Village.
Permanent residence reforms 'no hedge' on tax info share
The proposed permanent residency reforms are “not a hedge” against OECD/G-20 plans for a worldwide automatic exchange of tax information system, a leading financial services executive said yesterday.
BTC margins off 21% amid cellular equality demands
The Bahamas Telecommunications Company’s (BTC) controlling shareholder has demanded that it be placed on a ‘level playing field’ with any cellular rival, as price cuts dropped some margins by up to 21 per cent year-over-year.
Don't 'permanently delay' Central Revenue Agency
A Tax Coalition co-chair yesterday expressed hope that the Government’s plans to create a Central Revenue Administration (CRA) would not be “permanently delayed”, after the responsibility for collecting the new tax was switched to the Value-Added Tax (VAT) Department.
Travel restrictions on VAT delinquents 'unconstitutional'
The Government’s plans to prevent delinquent Value-Added Tax (VAT) payers from leaving the Bahamas until their bills are settled was yesterday branded unconstitutional, and likely subject to legal challenge if ultimately passed into law.
Customs 'scattergun' defence attacked by Freeport wholesaler
Freeport’s Hawksbill Creek Agreement “cannot be amended” by changes to the Customs Management Act and accompanying regulations, a leading wholesaler charging that the Government had adopted a “scattergun” defence to its Judicial Review action.
VAT electricity bill exemption 'aids rich more than the poor'
Exempting electricity bills from Value-Added Tax (VAT) would have “benefited the rich more than the poor” and further stressed a Corporation that is “completely bankrupt”, a well-known businessman said yesterday.
