$141m Ocean Club purchaser targets convention centre
The One & Only Ocean Club’s new owner has set its sights on developing a convention centre, after closing the Paradise Island property’s purchase for $140.5 million.
Gaming VAT: Casinos 'vehemently opposed'
MAJOR casino operators are “vehemently opposed” to suggestions that Value-Added Tax (VAT) should be levied on players via the gross sum bet, fearing this could make them “less competitive” than North American rivals.
Financial Secretary 'placed oil on fire'
The Financial Secretary’s decision to reveal that the Value-Added Tax (VAT) rate is likely to rise soon has been questioned by a well-known businessman, who likened it to “sprinkling oil on a fire”.
Cardboard recycling a weekly waste saver
Bahamas Waste says it is saving 180 cubic yards of landfill space per week via the 20 tonnes of cardboard waste it is recycling.
'Disastrous effect' fear if general insurance VAT-able
Placing general insurance into the ‘VAT-able’ category will have a “disastrous effect” on the Bahamian economy, a leading industry executive arguing that the New Zealand tax consultants were “mixing up apples and oranges”.
S&P: ‘All possibilities on table’ over rating
Standard & Poor’s (S&P) yesterday said “all possibilities are still on the table” over the Bahamas’ sovereign credit rating, with “execution” of Value-Added Tax (VAT) and other Budget measures key to avoiding a further downgrade.
$627m in FDI for 2014 year-to-date
THE Government has approved $627 million worth of foreign direct investment (FDI) so far this year, a Cabinet minister said yesterday, adding that this nation receives $3 in return for every dollar offered in investment incentives and subsidies.
Consultants: Put VAT on gambling
The Bahamas should levy Value-Added Tax (VAT) on all forms of gaming, with consultants urging it to follow New Zealand’s lead by taxing players through the gross sum bet.
'Unstoppable momentum' sees Baha Mar locate Mondrian replacement
Baha Mar yesterday said its rapid replacement of the Mondrian brand with SLS Hotels provided evidence of “the unstoppable momentum” behind the $2.6 billion project.
Court rejects SEC re-plead against Bahamian broker
A US judge has rejected the Securities & Exchange Commission’s (SEC) bid to re-plead ‘fraud’ allegations against a Bahamian broker/dealer, branding its claims as “unavailing” and failing to prove there was any cover-up of an alleged $11 million ‘pump and dump ‘scheme.
ART OF GRAPHIX: Shoot on instinct, not technicalities
Aren’t you a little tired of being perfect all the time? Does art always have to be so pretty and seamless? What if you tried posing for a shot in the rain?
Business owners graduate from capacity building
Some 35 business owners attended a three-day training initiative on Grand Bahama to boost the trade capacity of small companies.
Credit union enjoys 'record breaking' 14% member growth
A well-known credit union yesterday said it had enjoyed a “pretty good year” in 2013, with “record breaking” 14 per cent growth in its membership coupled with a just under 8 per cent increase in total assets.
VAT consultants call for 'doubtful debt allowance'
The Bahamas should include a ‘doubtful debts allowance’ in its Value-Added Tax (VAT) legislation, the two Zealand consultants suggesting that this “seems necessary” to alleviate “significant cash flow difficulties”.
National Forestry estate plan is 'unprecedented'
The creation of a national forestry estate would mark a “significant and “unprecedented” move for the Bahamias in the management and protection of its natural resources, a top official said yesterday.
