New Zealand's VAT success no guarantee for Bahamas
New Zealand’s success at fiscal reform does not necessarily mean its approach is the ‘best fit’ for the Bahamas, a co-chair of the private sector’s Tax Coalition has told Tribune Business.
Sandals to build its HQ in Bahamas
SANDALS Resorts International is moving ahead with plans to construct its new corporate headquarters in the Bahamas, the Prime Minister recently revealed, adding that the move would provide additional jobs in marketing, accounting and information technology (IT )services.
Poorest Bahamians face 11% spend cut without VAT net
The poorest Bahamians would face an 11.2 per cent spending/disposable income cut over 10 years as a result of Value-Added Tax (VAT) if no ‘social safety net’ is provided, with poverty levels increasing in line with the tax rate.
'Battle 4 Atlantis' promotional value grows 5% to $38.5m
Atlantis saw the free promotional value generated by its Thanksgiving college basketball tournament jump 5 per cent year-over-year to a “massive” $38.5 million, and is planning to use it as a model to attract other “exciting events”.
VAT 'almost as large as Y2K'
Value-Added Tax (VAT) at the Government’s proposed rate would grow the Bahamian economy by 16.5 per cent over 12 years, an Inter-American Development Bank (IDB) study has shown, despite one businessman yesterday likening the confusion over the new tax to Y2K.
FDI's current account share to fall to 50%
Foreign direct investment (FDI) will finance “close to” 50 per cent of the Bahamas’ current account deficit in the near-term, a Wall Street rating agency has projected, down from historical levels.
Airfare promotions are 'vital' to Out Islands
AIRFARE promotions such as the ‘Two Fly Free’ programme are “critical” to sustaining business levels Family Island resort properties, the Out Island Promotion Board’s (OIPB) president warning that access costs had to be reduced to increase stopover visitor arrivals.
Palm Cay sells 70% of single family lots
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Eight scientists to aid Bimini coalition
The Bimini Blue Coalition has enlisted eight scientists to bolster its Judicial Review claims and provide what it considers “a better plan for Bimini”.
Fiscal deficit falls 46% in first quarter
The Government’s fiscal deficit was slashed by almost 46 per cent to $78.1 million for the first quarter of its 2013-2014 fiscal year, even though the Bahamian economy continues to face “significant headwinds”.
Scotia names new managing director
Scotiabank Bahamas has named Sean Albert as its managing director to replace Kevin Teslyk.
Start-up targeting $250m sales via repair exports
A Bahamian start-up yesterday said it was targeting $250 million in sales “within the first three years” of exporting its airport runway repair products to the Caribbean, as it works on a contract to overhaul eight Family Island airports.
Developers 'unnecessarily sullied' on Bimini project
Resorts World (Bimini) executives yesterday said the company’s name had been “unnecessarily sullied” by criticisms of its multi-million dollar project, with construction work continuing despite a legal action seeking to block it.
Albany aiming to be a 'Monte Carlo'
ALBANY aims to become the “Monte Carlo” of this region as it moves ahead with a multi-million dollar expansion in early 2014, Prime Minister Perry Christie said yesterday, adding that the development would bring an additional 1,000 jobs.
Buyers fight for British Colonial
PRIME Minister Perry Christie said yesterday that a buyer seeking to purchase the British Colonial Hilton was currently in its due diligence period, adding that a rival was “lurking in the background.
