Tour, dive operators fear VAT disadvantage versus foreign rivals
Bahamian tour and dive operators fear Value-Added Tax (VAT) may put them at a competitive disadvantage against the cruise lines and other foreign rivals, who will escape having to levy it on their customers.
Nassau Palm owners target South Ocean
The principals behind the Nassau Palm hotel’s purchase have expanded their Bahamian resort acquisition ambitions beyond the British Colonial Hilton to now target the South Ocean Resort, Tribune Business can reveal.
10% VAT-induced inflation branded 'an exaggeration'
A senior Ministry of Finance official has described estimates that the proposed Value-Added Tax (VAT) would increase consumer prices by around 10 per cent as an “exaggeration”, with the Government set to imminently release its own projections.
Bahamian retailers set to create 'Federation'
Bahamian retailers will meet tomorrow to further their bid to create an industry Federation, with sector players warning it would be “catastrophic” not to warn the Government about Value-Added Tax’s (VAT) likely impact.
Cable 'geared up' on number portability
CABLE Bahamas says it is “geared up” and “ready to go” once number portability comes into effect next month, describing its 20 per cent fixed-line market penetration over two years as “pretty phenomenal”.
Gov't aims to 'get Bahamasair back' into Treasure cay
The Government is trying to “get Bahamasair back in” to service Treasure Cay, the minister of tourism describing the carrier as “critical” to increasing airlift and connectivity to the Family Islands.
Hope Town Lodge adds hotel veteran
Hope Town Harbour Lodge has appointed veteran luxury hotelier Allen Davis as manager of the historic property that was purchased by a group of Bahamian investors in June 2012.
$45m PHA offering fully subscribed in first day
By NEIL HARTNELL
Brewery opens its eighth store with Abaco addition
The Bahamian Brewery and Beverage Company has taken its wholly-owned nationwide retail network to eight by adding a Jimmy’s Wines and Spirits location in Marsh Harbour, Abaco.
Lawsuit mulled over North Abaco dredging
A lawsuit against the Government and developerds could be filed on behalf of North Abaco residents opposed to dredging at the site of a proposed boutique hotel and fishing lodge Tribune Business was told yesterday.
Tax Coalition chiefs praise PM’s ‘fantastic’ VAT remarks
Co-chairs for the private sector’s Tax Coalition yesterday praised indications that the Prime Minister was open to pushing back Value-Added Tax’s (VAT) implementation day as “fantastic”, warning it was “paramount” that the economy be protected.
Gated communities fearing VAT fee rises of up to 32%
Fears were expressed last night that home/property owners fees in gated communities and condo complexes could rise as much as 32 per cent with Value-Added Tax’s (VAT) implementation, one management company warning it would have “a big impact”.
BTC maintains revenues despite 30% price cuts
The Bahamas Telecommunications Company (BTC) has “critically” maintained top-line revenues despite slashing mobile and broadband Internet prices by 20-30 per cent post-privatisation, its majority shareholder said yesterday.
Bank chief warns VAT to increase prices 10%
A top bank executive yesterday estimated that the planned Value-Added Tax (VAT) would increase Bahamian consumer prices by around 10 per cent, with this and higher Business Licence fees increasing his institution’s operating expenses by an annual $2.5 million.
Gov’t makes ‘poor case’ on VAT need
THE Government has made a “poor case” as to why this nation must implement a Value-Added Tax (VAT), a leading businessman said yesterday, questioning: “If not VAT, then what’s the plan?”
