Dealer: Sales 'up 30-40%overnight' if tax change
A new car dealer yesterday told Tribune Business that his sales would “go up 30-40 per cent overnight” if the Government would revert back to the industry’s old tax structure, adding that until that happened: “We’ll all be in trouble.”
BEC backs net billing over metering
The BAHAMAS Electricity Corporation (BEC) prefers net billing to net metering, its general manager yesterday pledging that the utility would work with the Government to implement the legislative reforms necessry to facilitate renewable energy growth.
Ferry targets 1,200 Bimini passengers
A direct ferry service from South Florida to Bimini is scheduled to start next month, a move the company believes will “open the doors” to the island by bring ing in as many as 1,200 passengers per week.
Businesses under $50k miss account keeping demands
Bahamian companies with an annual gross turnover of less than $50,000 have been exempted from new laws requiring firms to keep accounting records for five years, as this nation comes into line with the Organisation for Economic Co-Operation and Development’s (OECD) demands.
Bahamas urged: 'Get serious' on tax penalties
Compliance will be “one of the greatest challenges” the Bahamas faces in implementing a Value-Added Tax (VAT) or some other form of tax reform, a leading accountant yesterday saying this nation needed to “get serious” about penalising offenders and generating better business data.
Bank executive pushes energy price hedging
A SENIOR financial executive said yesterday that countries such as the Bahamas should look at hedging structures to reduce the impact of crude oil price fluctuations.
FNM wanted VAT in 'two-three years'
The Free National Movement (FNM) had planned to implement a Value Added Tax (VAT) within “two to three years” if it had been re-elected in May 2012, a former Cabinet Minister yesterday saying it would “not have been fooling around with a gaming referendum”.
'Swept under rug': wrecked autos facilitate crime
Bahamian auto dealers yesterday urged Customs to crack down on wrecked and damaged car imports, warning that they were facilitating high levels of vehicle theft.
Fuel charge is 60-70% of BEC consumer bills
THE Bahamas Electricity Corporation (BEC) is spending more than $350 million per year on fuel supplies, its general manager telling Tribune Business yesterday that the fuel charge on consumer bills currently accounts for 60-70 per cent of the total.
Bahamas can become Americas' '21st century Arbitration hub'
The Bahamas can become the “21st century International Arbitration seat for the Americas”, a leading practitoner said yesterday, adding that it would take a five-year process for it to establish itself as such.
Flowers: Web shop numbers 'don't mean a hill of beans'
A leading web shop operator yesterday said the industry’s current financial numbers “don’t mean a hill of beans”, arguing that the sector’s performance would change markedly in a regulated environment,
Tobacco smuggling: Bill to recover 80% of revenue losses
The Government yesterday estimated that it will recover 80 per cent, or $20 million, of the revenues it loses annually to tobacco smuggling via its Excise Stamp initiative, and disclosed it was looking at similar measures to combat illegal alcohol imports.
Island Luck chief open to 49% IPO
A major web shop operator said yesterday he would do everything in his power to ensure that a gaming industry initial public offering (IPO) becomes a reality if the industry is legalised, telling Tribune Business he would be willing to offer as much as a 49 per cent stake in his own enterprise.
Ingraham Gov't 'maxed out' short-term credit through 79% increase
The Ingraham administration demitted office in May 2012 after leaving all the Government’s short-term credit facilities “maxed out”, a Cabinet Minister saying borrowing of this nature rose by 78.7 per cent during its five-year term.
Employee retention is key summit focus
A human capital specialist from Deloitte Consulting will be a featured speaker at the Bahamas Financial Services Board’s (BFSB) upcoming International Business & Finance Summit (IBFS) in Bimini.
