Financial Crisis plan finished by early 2014
Bahamian regulators expect to complete their work on a National Financial Crisis Management Plan by late 2013 or early next year, the Central Bank governor telling Tribune Business they were “completely vested” in the extra resiliency this would create in the industry.
VAT covering 99% of economy despite $50,000 exemption
THE Government’s plan to exempt businesses with an annual turnover of $50,000 or less from paying Value Added Tax (VAT) will capture “99 per cent” of the turnover taking place in the Bahamian economy, a senior Ministry of Finance official believes, relieving small businesses from the compliance burden.
Nassau Palm sale set for May close
The Nassau Palm Hotel is “under contract” to be sold in a multi-million dollar deal set to close at end-May, Tribune Business can reveal, with its owners hoping it is ‘third time lucky’.
Atlantis chief says May, June 'very worrisome'
Atlantis’s top executive yesterday described the outlook for May and June as “very worrisome”, with the resort’s leisure and group traveller segments giving off mixed indicators
AGM to determine Bahamas First's BISX listing fate
Next month’s Bahamas First Holdings annual general meeting (AGM) will likely determine whether the insurance group “abandons altogether” plans to list its shares on the Bahamas International Securities Exchange (BISX), Tribune Business was told yesterday.
Galanis: Flat $100 Business Licence fee is ‘mistake’
A prominent Bahamian accountant yesterday urged the Government to reconsider its proposal to reduce all Business Licence fees to a flat $100 rate, arguing that such a move would “fly in the face” of achieving equality in taxation policy.
Yacht brokerenjoying 80%sales upswing
A BAHAMIAN boat/yacht broker has seen an 80 per cent sales upswing for 2013 to-date, telling Tribune Business yesterday that most of the boats sold were over the $100,000 threshold.
THE ART OF GRAPHIX: Designing the best impression
Why should businesses pay attention to their graphic designer? In a market crowded with dozens of competitors all selling the same product or service, the only way to stand out is by strong branding and image.
'Embrace' private sector into work permit decisions
Private sector representatives should sit on the Immigration and Labour Boards, a well-known businessman suggested yesterday, warning that many companies were beginning to “resent” being forced to hire understudies as a condition of work permit approvals.
Tambearly takes New Providence lead on solar installations
Tambearly School has become the first New Providence-based school to install “significant” solar power panels that provide a collective 39 kilowatt (Kw) output.
VAT may create tax specialists
THE Government’s proposed Value Added Tax (VAT) is expected to generate an entirely new revenue stream for private sector accountants, the Bahamas Institute of Chartered Accountants (BICA) president yesterday telling Tribune Business the reforms may create jobs for Bahamian tax specialists.
Customs duties under 20% ‘not a far stretch’
Slashing Customs Duty rates below 20 per cent when Value Added Tax (VAT) is introduced is “not a far stretch”, a senior Ministry of Finance official said yesterday, adding that shifting the tax burden services should reduce the levy on imported goods.
Top Colina executives inspire COB students
Colina Insurance executives sought to inspire the next generation of Bahamian professionals by discussing their career journeys before students during the College of the Bahamas (COB) recent Business Week.
Nygard eyes $30m stem cell facility
Fashion tycoon Peter Nygard is planning to invest between $25-$30 million in constructing a stem cell research-focused medical facility at his Lyford Cay home, Tribune Business can reveal, a project that could employ between 100-125 Bahamians in the construction phase.
Bahamas First in 18.5% motor claim increase
Bahamas First has seen a 20 percentage point decline in comprehensive insurance policies’ share of its auto book since the recession began, with total Bahamian motor claims increasing by 18.5 per cent in 2012. ==
