Royal Caribbean cut Crown Land to avoid Toby 'conflict'
Royal Caribbean executives yesterday said they reduced their Paradise Island Crown Land demands by 43 percent in a bid to "untangle ourselves" from any "conflict" with Bahamian entrepreneur Toby Smith.
Tax authority chief labels $875m arrears 'alarming'
The Government's top tax collector yesterday branded the $875m in combined outstanding VAT, real property tax and Business Licence arrears as "alarming" even though this sum has been slashed from the previous $1bn.
Ten couriers blocked amid $193m VAT arrears worry
Ten courier companies recently saw Customs temporarily halt clearance of their clients' imports, the Government's top tax official revealed yesterday, as part of a drive to recover $193m in total VAT arrears.
PI investment to be ‘gold environmental standard’
Royal Caribbean executives yesterday pledged their Paradise Island project will set "the gold standard" for environmental sustainability, adding that Atlantis and others should feel "comfortable" their concerns will be resolved.
Tax authorities eye $3m from Briland crackdown
The Government is expecting to realise an extra $3m in revenue from the recent crackdown on Harbour Island tax cheats, its top tax official said yesterday.
Foreign workers 'manipulating system'; cost Gov't thousands
The Government is losing thousands of dollars in fee income because foreign construction workers and their sponsors "have figured out how to manipulate the system", the Bahamian Contractors Association (BCA) chief said yesterday.
GB water supplier: 40% protected from price rise
Grand Bahama's water supplier yesterday pledged that 40 percent of its customer base will not see any price hikes from an adjusted tariff structure due to take effect on May 1 if approved by regulators.
Vacation rental listing ‘not so we can tax you’
The Government's revenue chief yesterday said some 7,500 vacation rental owners have registered with the Department of Inland Revenue but insisted this is "not so we can tax you".
Capitalise on improved 2023 GDP growth to avoid 'bother'
The Bahamas was yesterday urged to "capitalise on the momentum" created by the IMF's increased 2023 economic growth projections otherwise it could face "bother" in the medium to long-term.
Civil registry's online return eliminates 'terrible handicap'
Attorneys and realtors yesterday hailed the civil registry's online restoration for eliminating "a terrible handicap" that had created a "go slow" for title searches and real estate transactions.
RBC Caribbean chief: Low growth hits FINCO
Royal Bank of Canada's (RBC) top Caribbean executive says its Bahamian mortgage lending arm will "continue to be challenged" with credit losses and an inability to expand its loan book because of the country's "low growth economy".
FTX's Bahamian liquidators possess own data leverage
FTX's Bahamian provisional liquidators have their own data bargaining chips, it has emerged, as they control "electronic devices" used by Sam Bankman-Fried and his inner circle that their US counterparts are eager to access.
‘Mission critical’ cruise port in $12.38m profit
NASSAU Cruise Port's success was yesterday branded "mission critical" for The Bahamas with 35 percent of the country's economy dependent on a facility that has generated $12.383m in net profits even before its official opening.
Activist: Don’t let polluters off hook with minimal fine
An environmental activist yesterday warned that the parties responsible for last year’s Exuma oil spill must not be allowed to escape by paying a minimal fine.
‘Ground breaker’ insurance for $2bn mangrove system
The Bahamas stands to benefit most out of all hurricane-prone Western Hemisphere nations from investing in the $2bn worth of natural storm surge protection provided by its mangrove ecosystems, it has been revealed.
