Gov't officials downgraded to vehicle leasing
High-ranking officials who are entitled to a new car every three years at taxpayer expense have been kicked on to a vehicle leasing programme as part of the Government’s drive to cut spending, it was revealed yesterday.
Government moves on FATCA reporting
THE Ministry of Financial Services is set to issue a tender for the development and implementation of a Foreign Account Tax Compliance Act (FATCA) reporting system, its director said yesterday, adding that it was working towards a December deadline to have its draft legislation released for industry consultation.
'No disadvantage' for off-property eateries under VAT
Value-Added Tax (VAT) will not place Bahamian restaurants at a competitive disadvantage against their hotel-based counterparts, a Cabinet Minister asserted yesterday, because they target two different customer bases.
ART OF GRAPHIX: Don't colour brand image
What does your brand colour say about your business? Do you know that colour is the first thing our brain registers before words or shapes? Meaning that colour is registered by the brain before images or typography.
Top IMF executive backs Gov't on VAT
A senior International Monetary Fund (IMF) executive yesterday effectively backed the Bahamas’ decision to implement a Value-Added Tax (VAT) regime, describing it as a “very efficient” form of taxation.
'Serious players' target captive insurance set-up
THE MINISTER of Financial Servcies said yesterday that “serious players” in the captive insurance industry were looking to set up a physical presence in the Bahamas, and this nation could soon look to establish a “dominant position” in the segment.
PI developer loses $37m security fight
The “sole purpose” behind a developer’s legal action was to delay CIBC FirstCaribbean International Bank (Bahamas) in realising its $37 million security on a controversial 12-storey Paradise Island condominium project.
Brewery seeks 100% increase in tax margin
Sands Beer’s manufacturer has urged the Government to increase the ‘tax differential’ advantage it enjoys over Commonwealth Brewery by 100 per cent for a “guaranteed” 15-year period, having been “assured” the authorities will not force it to close down.
Gov't gets 'F' for VAT implementation
The Government is losing the public relations battle over Value-Added Tax (VAT) through its “cloak and dagger” tactics, a leading businessman warning yesterday he had to believe the Nassau Institute study’s conclusions in the absence of other evidence.
Gov't to consult Bahamian dealers over Esso sale
The Government has received a “formal application” from the Barbados-based SOL Group for its approval of the Esso (Bahamas) acquisition, a Cabinet Minster yesterday confirmed, while promising to consult with the latter’s Bahamian retailers before any decision was taken.
'Hanging on by a thread': Construction's VAT fears
Bahamian contractors were yesterday said to be “very concerned” about Value-Added Tax’s (VAT) potential impact on construction prices, one warning that many were already “hanging on by a thread”.
The Bahamas ranks 39th on economic freedom
THE Bahamas has been ranked 39th out of 152 nations included in the Economic Freedom of the World: 2013 Annual Report, which has been released today by the Nassau Institute.
Financial controller passes the series 7
Tangela Russell, financial controller at the Sterling Financial Group, has passed the Series 7 exam after training with Nassau-based The Nastac Group.
Freeport call centre eyes up to 600 jobs
A Freeport-based call centre set to open this fall yesterday suggested it could createup to 600 jobs, although it will start with 100 or one-sixth of that amount.
Seven Bahamians pursue Sandals qualifications
The Sandals Corporate University (SCU) is moving into its second year by providing more support for team members at the Sandals, Beaches and Grand Pineapple Resorts across the Caribbean.
