Key tax arrears jump $230m to hit $1.13bn
Tax arrears owed to the Government from three key revenue streams increased by a collective $230m during the first nine months of the current fiscal year to hit $1.13bn at end-March 2023.
20% of Gov'ts fixed costs go to debt bill
One out of every $5 spent by the Government on its recurrent costs during the upcoming 2023-2024 fiscal year will go towards paying the $612.726m interest bill on its outstanding $11bn-plus national debt.
Property tax cap up 25% to hit $150,000
Bahamian realtors have given a mixed reaction to the Government's decision to increase the annual real property tax cap by 25 percent to $150,000.
New hope
ActivTrades
The averted US debt default, and positive data from the American jobs market, put international investors in a buying mood. In Germany, the Dax index jumped over the 16,000 point mark last Friday. Wall Street also closed higher.
Gov't ready to guarantee Nassau's $290m hospital
The Government is prepared to guarantee the $290m financing for New Providence's new hospital, a Cabinet minister revealed yesterday, adding: "This is a worthwhile investment for the Bahamian people."
ArawakX accounts unfrozen following battle with financier
A Bahamian crowdfunding platform yesterday confirmed multiple accounts it holds with Bank of The Bahamas have been unfrozen after a dispute with one of its founding financiers impacted "probably thousands" of investors for months.
Ensuring postal service embraces 21st century
Despite being a critical driver of economic growth, The Bahamas' postal service is currently lagging in its operations.
Halkitis: We'll meet targets - and beat them
A cabinet minister said that the government will “achieve” and “surpass” the budget targets in terms of the deficit with a goal to get the debt to GDP down to 50 percent by 2031.
Sweeting: Cultivation centre to open by end of the month
The Gladstone Road cultivation centre is 90 percent complete and will be ready for opening by the end of the month.
Petroleum retailers agree to 'phased in' margin increase
Bahamian petroleum retailers yesterday said they will accept a "phased in" 30 cent per gallon margin increase as they urged the Prime Minister to meet with the sector this week "to put this baby to sleep".
Deficit's 75% cut hinges on $400m revenue surge
The Ministry of Finance's top official yesterday asserted he is "very confident" the Government will increase revenues by $400m year-over-year, and slash its fiscal deficit by 75 percent, in the absence of new and/or increased taxes.
Gov't near-tripling cruise departure tax to $145m
The Government is aiming to near-triple revenues earned from departing cruise passengers to $145m in the 2023-2024 Budget via a series of new and increased fees, it was revealed yesterday.
'Throwing darts': PM pledges 'decisive action' on Freeport
The Prime Minister's decision to put the Grand Bahama Port Authority's (GBPA) owners on notice that he plans to take "decisive action" to halt Freeport's two-decade decline yesterday provoked mixed reactions from residents and politicians.
Bahamas is exploring 'debt for nature' swap
The Government is exploring a "debt-for-nature swap" with the Inter-American Development Bank (IDB) that could result in at portion of its $11.2bn national debt being forgiven, the Prime Minister said yesterday.
VAT filing cut for $5m companies
The Ministry of Finance's top official yesterday voiced optimism it will "not be a big problem" for Bahamian companies with annual turnovers exceeding $5m to file and pay their VAT returns within 14 days.
