Court blasts three way trust battle
The Court of Appeal has blasted a legal battle involving ‘breach of trust’ claims against CIBC Trust Company (Bahamas) as a prime example “of how litigation ought not to be conducted”, bemoaning the failure to apply “rigorous case management” from the outset.
Gov't 'to miss' VAT rate, deadline goals
The Government is subtly signalling it will miss its target Value-Added Tax (VAT) implementation deadline and introduce it at a lower rate than the advertised 15 per cent rate, a well-known businessman said yesterday.
CLICO liquidator reverses $1.45m Haiti write-off
CLICO (Bahamas) liquidator is trying to determine whether its affiliate’s $1.45 million property investment in Haiti can be recovered, having previously branded it a write-off.
PM's VAT alternative study offer 'seems duplicitous'
The Prime Minister’s fiscal reform ‘olive branch’ to the private sector “would appear duplicitous and rings hollow” because there is not enough time to conduct proper studies on Value-Added Tax (VAT) alternatives.
Timber harvester to hit market within two weeks
An Abaco-based timber harvesting company expects to bring its first line of inventory to market within the next two weeks, telling Tribune Business it had received a strong reception in the Bahamian market already by securing pre-sales of 15,000 board feet.
Airport drops short term parking fee 33%
Lynden Pindling International Airport (LPIA) yesterday dropped its short-term parking fees by 33 per cent in response to customer feedback.
Seven deadly sins in sales
By Scott Farrington Here are seven sales habits that might be giving you a bad reputation.
Online marketing ventures launch
The Minister of Tourism has branded average 33 per cent occupancy levels among Family Island hotels as “unacceptable” at the launch of an online marketing business.
Palm Cay unveils second condo stage
Palm Cay yesterday announced it has opened reservations for Phase 2 of its much-anticipated luxury condominiums, The Anchorage.
BISX educates high schoolers
The Bahamas International Securities Exchange (BISX) spent the afternoon on Monday, February 17 with the Grade 12 Economics and Commerce classes at R. M. Bailey Senior High School.
Bahamas can 'kiss yacht charters bye' over VAT uncertainty
THE Bahamas could “kiss the yacht charter business goodbye” if the Government decides to levy a 15 per cent Value-Added Tax (VAT) on the industry, the Marina Operators president yesterday urging: “We really need to get this settled.” “Obviously it’s caused a lot of uncertainty in the industry,” said Peter Maury, president of the Marina Operators of the Bahamas (MOB).
400 jobs may go, warns store owner
Super Value’s owner has warned that a 400 person lay-off may be “coming down the pipeline” across his various food retail interests unless the Government relents over its Value-Added Tax (VAT) proposal, plus Price Control and other recent tax increases.
Gov't: 20-25% payroll tax for VAT match
The Government would have to implement the private sector’s favoured payroll tax at a rate between to 20-25 per cent to hit its revenue targets, the Financial Secretary saying this meant the average Bahamian worker would see more than $200 per month taken from their salary.
Scotiabank beats target with 20% net income rise
Scotiabank (Bahamas) yesterday said it had “exceeded expectations” with the almost-20 per cent year-over-year net income increase it enjoyed in 2013, with the improvement largely driven by “stabilisation” in its non-performing loan portfolio.
GB Shipyard ‘worries’ on VAT wage pressures
GRAND Bahama Shipyard has “sufficient worries” over Value-Added Tax (VAT) and the likely impact it would have on the cost of living for its 700 employees, fearing this will put pressure on the hourly rates it pays its workforce.
