Trade fears: WTO set to have 'opposite' impact
The Bahamas Trade Commission’s chairman yesterday said opening up this nation’s economy would have the “opposite” impact to many people’s fears, expressing confidence that it would boost incomes and employment.
Bimini developers hold Town meeting
Around 100 Biminites attended a Town Hall meeting on Resorts World’s cruise terminal/jetty projects, where residents aired a mixture of support and environmental concerns.
Gov't: No FDI impact from fingerprint need
The Government yesterday said foreign investors were unlikely to be deterred from coming to the Bahamas by new international rules requiring them to supply their fingerprints as part of the due diligence process.
Gov't approves $8.2m February point deal
The Government yesterday granted ‘full approval’ for the $8.2 million purchase of Exuma’s February Point project by a group headed by US investor John McGarvey, Tribune Business can reveal.
'Shake tree harder' with existing taxes
The Government was yesterday urged to “shake the tree harder” with the existing system before turning to Value-Added Tax (VAT), a key player in the fledgling Bahamian Federation of Retailers warning this nation was unlikely to buck the region’s “unsuccessful implementation” trend.
Brewery halts 15-year plan on tax 'unknowns'
Sands Beer’s manufacturer yesterday said “all these unknowns” over Value-Added Tax (VAT) and its own industry-specific taxes were preventing it from moving ahead with a 15-year growth strategy, as it urged the Government to avoid “one big calamity”.
S&P: 6% deficit to miss Gov’ts target
Standard & Poor’s (S&P) believes weak economic growth and revenue performance will cause the Government to overshoot its 2013-2014 fiscal deficit targets by a sum equivalent to 1 per cent of gross domestic product (GDP).
Gov't moves to 'trim the fat'
Some industry stakeholders have already seen the draft Value Added Tax (VAT) legislation, a Cabinet minister yesterday confirming it would be available for full public consultation soon.
Gov't unveils two month VAT bonded warehouses
Value-Added Tax (VAT) registrants will be allowed to bring in goods duty-free two months prior to implementation in a bid to “soften” the tax’s impact, a Customs officials revealed yesterday, with the Government proposing to operate ‘transitional’ bonded warehouses.
Companies to be allowed 'upfront' VAT credits
Companies will be allowed to make ‘upfront’ VAT input credit claims prior to the sale of a particular item, a senior Ministry of Finance consultant said yesterday, noting that they would not necessarily be put “out of pocket”.
Attorney addresses compliance meeting
A Bahamian attorney was among a panel of practitioners sharing their expertise in compliance, cyber crimes, fraud and corruption at the Caribbean Regional Compliance Association (CRCA) conference in St Maarten last week.
Royal Bank re-opens two major branches
Royal Bank of Canada (RBC) has announced the re-opening of two key branches in western New Providence. The RBC Airport and RBC Lyford Cay branches have both been rebuilt in new locations.
Constantly catch 'high tide' with your service
By Scott Farrington
Departure tax rise to replace aviation fees
A departure tax increase that would replace some of the 2013-2014 Budget’s new and increased aviation fees appears to be “an acceptable position” for all sides, said Tourism Minister Obie Wilchcombe, telling Tribune Business that the Government was expecting a “greater return” with respect to air arrivals.
Marinas fear VAT will 'put us out of market'
Bahamian marina operators fear Value-Added Tax (VAT) will “stunt” growth of the vital yacht charter business, and are warning they will “be put out of the market” if the new tax is levied on their fuel sales.
