Fidelity fears 'deterioration' as taxes triple
Fidelity Bank (Bahamas) yesterday warned that its 2013 second half performance was likely to “deteriorate” due to the impact of its new $1.2 million Business Licence fee, a development that will triple its tax burden.
Auto dealer concern on exemption 'double dip'
A Ministry of Finance official yesterday confirmed that vehicle owners with comprehensive insurance could still take advantage of the duty exemptions issued over New Providence’s May flooding, while addressing auto dealer concerns over how Customs was applying this.
Port share offering 71% oversubscribed
The Arawak Port Development Company’s (APD) preference share issue was 71.4 per cent oversubscribed, Tribune Business was told yesterday, raising $15 million more than target.
Broker smeared by SEC to 'create illusion'
A Bahamian broker/dealer has accused US regulators of smearing its reputation to “create the illusion” it was knowingly involved in an $11 million fraud, while denying that Bahamian law obliged it to act as “an investigative agency”.
'Political will' needed' for aviation regime fix
A BAHAMIAN airline executive yesterday said the Government needs to demonstrate the political will necessary to fix the country’s aviation regulatory regime, warning that a downgrade by the Federal Aviation Administration (FAA) could have devastating consequences for the industry.
Poor Gov't consultation aviation's 'top threat'
A BAHAMIAN airline chief executive yesterday warned the Government’s failure to consult was “the greatest threat to our survival” in the aviation industry, suggesting that some airlines could be paying up to $1,200 extra in Customs fees per day.
PM urges BAIC: Study sand export potential
PRIME Minister Perry Christie yesterday urged the Bahamas Agricultural and Industrial Corporation (BAIC) to study the potentoal for a “major” sand export market, while also calling for a sponging industry revival.
RICHARD COULSON: Growth Forum yet to deliver
Euphoria but scepticism. These were my conflicting emotions during the two-day gathering, called a ‘Regional Workshop’, of the Caribbean Growth Forum (CGF), held last month in the ornate meeting rooms of the Atlantis Conference Centre.
Sir William 'doubts' 2014 VAT timeline
A former finance minister says it is “doubtful” that the Government will hit the target timelines for its two key fiscal objectives - the introduction of Value-Added Tax (VAT) and eliminating the fiscal deficit.
VAT revenue boost equal to 2% of GDP
The Government believes that Value-Added Tax’s (VAT) introduction will generate a net revenue increase equivalent to 2 per cent of gross domestic product (GDP), and expects to achieve most of this from the ‘get go’.
Property tax amnesty yields almost $18m
THE Government’s real property tax amnesty has yielded just under $18 million to-date, a Cabinet Minister confirmed yesterday, with 1,000 new properties added to the Government’s database.
Major retailer explores Nassau Village pull-out
Around 50 Bahamian jobs are set to be impacted as a well-known food retailer looks to either relocate its sole New Providence store or close it altogether, less than a year after it opened.
Attorney passes compliance exam
Attorney Estena Saunders has passed the chief compliance officer qualifying exam after studying with the Nassau-based Securities Training Institute (STI).
Cash 'N Go makes Exuma entrance
Sandals Emerald Bay said it has partnered with Cash ‘N Go to create a one-stop-shop for all its employees’ needs.
GB Shipyard hires young professionals
FREEPORT, Grand Bahama – The Grand Bahama Shipyard has hired three young Bahamian professionals to permanent positions, employing Jeffery DeGregory, Natasha Bethel and Justan Campbell as a junior naval architect and junior planners respectively.
