Payroll tax can generate $190m
A 5 per cent payroll tax administrated via the National Insurance Board (NIB) could generate $190 million in annual revenues and enjoy a more “seamless implementation” compared to Value-Added Tax (VAT), a Tax Coalition co-chair argued yesterday.
Super Value eyes 77,000 VAT price changes per store
Super Value’s owner says the food chain will have to change 77,000 prices in 13 different stores to accommodate Value-Added Tax (VAT), warning that when it came to opposition to the new tax “you ain’t seen nothing yet”.
Bahamas resisting US push to help OECD with taxes
The Government is pushing to remove a clause in the Bahamas’ draft Foreign Account Tax Compliance Act (FATCA) agreement with the US that would commit this nation to deepening its involvement with Europe and the OECD on tax information exchange.
Gov't: FATCA system bids peak at $63m
The Government yesterday said it has received bids costing up to $63 million for its Foreign Account Tax Compliance (FATCA) reporting system, which will process US client records from 2,000 financial services providers.
Over 130 attend BFSB's summit
More than 130 Bahamian and international financial services practitioners took part in the 11th annual International Business and Finance Summit (IBFS) at Sandals Emerald Bay in Exuma last weekend.
Bimini developer unveils casino training course
Resorts World Bimini yesterday announced the launch of a six-week Roulette training course for island residents, with selected graduates to be offered employment at its casino. The course, said to be one of several training programmes created by the developer, gives participants the opportunity to further their career in the casino industry.
'How can we be ready for VAT if you're not?'
THE Government’s “administrative readiness” for the proposed July 1 Value-Added Tax (VAT) implementation remains a “huge concern”, a Tax Coalition co-chair yesterday asking: “How are we to be ready if you are not ready on the other side?”
Royal Bank: No plans for Bahamian disposal
Royal Bank of Canada (RBC) yesterday said it had no plans to sell its Bahamian operations or those in any other Caribbean country, following its exit from Jamaica.
ART OF GRAPHIX: Breaking out the corporate identity
What is the difference between a business logo and brand? I find many people become a little muddled over this, which is not surprising given that some entrepreneurs do as well.
Union: Strike 'not best avenue' to end disputes
A trade union leader yesterday said Sandals Royal Bahamian employees had little choice but to take a strike vote, after the resort warned its actions could deter potential foreign direct investment (FDI) in this nation.
CWC demanded three-year cell monopoly extension
Cable & Wireless Communications (CWC) initially demanded a three-year extension to the Bahamas Telecommunications Company’s (BTC) existing cellular monopoly as the price for giving up majority ownership, Tribune Business was told yesterday.
Activists had 'arguable case' on Bimini dock
Environmental activists had an “arguable case” against the Government and Resorts World Bimini over the latter’s planned cruise ship terminal, a Supreme Court judge finding there were “serious issues to be tried” despite his refusal to grant an injunction.
Aviation seeks equal VAT treatment with land, sea transport
The Bahamian domestic aviation industry yesterday said it was seeking ‘equal treatment’ with other transportation sectors over Value-Added Tax (VAT), a senior figure fearing it would suffer “devastating” consequences if not ‘exempt’.
Tax Coalition moves to hire economist for VAT modelling
The Tax Coalition’s co-chair yesterday said it was the “slow release” of Value-Added Tax (VAT) details by the Government that had delayed public feedback, with the private sector body now poised to move on its own economic impact studies.
Gov't, Supreme Court urged: Alter approach over Judicial Review
A leading QC yesterday urged the Government and Supreme Court to change their approach to ‘public interest litigation’, calling on the latter in particular to not “apply hard-fought commercial principles” to all Judicial Review actions.
