Fishermen to query VAT impact on industry 'as a whole'
FISHERMEN are preparing to forward a list of queries to the Ministry of Finance relative to how the industry “as a whole” will be impacted by the proposed Value-Added Tax (VAT), the head of the Bahamas Commercial Fishers Alliance also expressing concern that they were not getting “fair market value” for certain products.
VAT exemptions 'not in best interest of gov't or businesses'
EXEMPTIONS under the proposed Value Added Tax (VAT) systems would “not be in the best interest of the government or businesses” according to the head of the Retail Grocers Association, who argued that the potential to recover only 20-25 per cent of their inputs would eventually drive some retailers out of business.
Volume of potential V.A.T. registrants a 'concern'
THE Tax-Coalition’s co-chair has expressed concern as to whether the government will be able to deal with the volume of business who would likely look to become Value-Added Tax (VAT) registrants, noting that the government could face “big problems” if it was unprepared to deal with the volume of registrants.
Tax experts support one rate, no exemptions V.A.T. framework
A “one rate, no exemptions” Value-Added Tax (VAT) framework has worked “extremely well” in New Zealand according to tax experts from that country, noting that such a move would broaden the tax base and minimise compliance costs.
'Greater confidence' if govt followed New Zealand tax reform model
THE government’s tax reform process would engender “greater confidence” if it followed exactly the same model of private sector engagement as New Zealand, the tax coalition’s co-chair stating, “We’re on a completely different path”.
Hotels see 'slight' Q1 room occupancy rise
MAJOR Nassau/Paradise Island hotels saw a “slight increase” in room occupancy rates during the first quarter of this year, the Bahamas Hotel and Tourism Association (BHTA) noting the the first quarter’s performance was affected by an “unusually large” number of flight cancellations and a reduction in room inventory.
$30m Four Seasons development negotiations 'well advanced'
THE government is expected to meet next week to “wrap up” a Heads of Agreement to pave the way for a reported $30 million Four Seasons branded luxury resort development in Eleuthera.
Timber company at 'dead stop' over equipment duty snag
AN Abaco-based timber company said yesterday that its operation had come to a “dead stop” after duty concession issues led to the delay of a shipment of $400,000 worth of vital equipment, its principal telling Tribune Business, “We’re stuck and can’t do anything”.
'Lucrative opportunity' in vacation home rental market
THE vacation home rental market in the Bahamas can be tapped for further growth, according to a local businesswoman who described it as a “lucrative opportunity” and urged the formation of an association to ensure proper rental standards and repeat business.
Cotton Bay development eyeing hotel and golf course in 2015
THE Cotton Bay Estates developers expect to have a hotel and golf course constructed by next April according to Prime Minister Perry Christie who noted that $90 million had been invested in the development to date.
'Big boom' in high-end vehicle purchasers
A leading auto dealer said that he had seen a “big boom” in high-end vehicle purchases coming off last month’s BMDA car show, telling Tribune Business, “I can’t keep them in stock”.
Big Game eyes strong boating season
THE Bimini Big Game Resort & Marina saw a “sellout” Easter weekend, its general manager describing it as “one of the highlights of April”.
Cable Bahamas eyes 1,500 more customers to broadband subscription
CABLE Bahamas said yesterday that it was looking to add another 1,500 customers to its broadband network, executives noting that the company had gained a 26 per cent market share in landline services in just two years.
Cable Bahamas 'pretty pleased' on Florida growth
CABLE Bahamas said yesterday that it was “pretty pleased” with the growth level on its recently acquired Florida business, its president and CEO telling Tribune Business that the the communications provider had already contracted its 2014 growth in the first quarter of this year.
Advertising and its importance
By Diedre Bastian
