‘Cut losses’ over Rubis fuel leak damages case
A Bahamian homeowner’s $159,450 damages award over the 2012 fuel leak from Rubis Bahamas’ Robinson Road gas station has been overturned by the highest court in this country’s judicial system which has urged both sides to “cut their losses”.
Food stores face ‘nightmare’ on VAT exempt compliance
Food merchants fear the “workload” created by new tax rules will make it “impossible to comply” with timely and accurate VAT filings, Super Value’s owner is warning, while asserting all would be “hunky dory” if the elimination of tax on uncooked foods is made “simpler”.
Private sector must show anti-financial crime regime works
Bahamian financial institutions must demonstrate that compliance systems are not only in place but actively working to ensure this jurisdiction received a strong grade from the upcoming Financial Action Task Force (FATF) assessment of its anti-fnancial crime defences.
Bahamas regulatory move is blockchain global first
The Bahamas’s bid to regulate decentralised autonomous organisations (DAOs) through new legislation could be a global regulatory first, the Attorney General has asserted.
PM ‘trying to get head wrapped around’ NHI payment hold-ups
The Prime Minister has voiced frustration over delayed payments to doctors and others providing medical services to the National Health Insurance (NHI) scheme, and asserted he is “still trying to get my head wrapped around” what is causing the problem.
Over 20 flights impacted by bomb threat to LPIA
A bomb threat at Lynden Pindling International Airport (LPIA) delayed 11 domestic departures and nine US-bound and international flights yesterday morning, while two aircraft were diverted before operations resumed shortly after 9am.
Bahamas ‘trying to close gaps’ over OECD review
The Bahamas is “trying to close gaps” in its legislation to ensure a favourable review by the Organisation for Economic Co-operation and Development (OECD) over its compliance with global automatic tax information exchange standards, the Attormey General has revealed.
Minister affirms Gov’ts consumer safety pledge
A Cabinet minister reaffirmed the Government’s commitment to protecting the safety and rights of Bahamian consumers during a ceremony marking World Consumer Rights Day.
Judge pleads with Gov’t bank not to repossess family home
A Supreme Court judge has pleaded with a government-owned bank not to proceed with repossessing a couple’s Charlotteville family home after they purportedly made monthly payments plus a $32,000 “lump sum” to bring their mortgage back into compliance.
Super Value facing $400k monthly VAT ‘exempt’ hit
Super Value is bracing for an up to $400,000 per month hit due to the Government’s decision to treat the elimination of VAT on uncooked foods as ‘exempt’ rather than ‘zero rated’.
Bahamian trustee battles DOJ on $27m ‘repatriation’ demand
A Bahamian financial provider is battling the US Justice Department’s demand that it surrender assets held in two trusts it administers to cover $27m in unpaid federal income tax arrears owed by their settlor/beneficiary.
Rosewood Exuma bid ‘did not initially meet sustainable standards’
The $200m Rosewood Exuma project “did not initially meet standards for sustainable development”, the Government’s top environmental regulator has revealed, while also being challenged for citing Nassau Harbour and Arawak Cay as comparisons for its likely environmental impact.
Pintard: BPL base rate rise ‘very likely’ after election
The Opposition’s leader has doubled down on concerns over the Government’s energy reforms by asserting it is “very likely” that Bahamas Power & Light’s (BPL) base tariff will be increased after the upcoming general election to ensure it remains financially viable.
PM: GBPA was asset stripped by its owners
The Prime Minister last night accused the Grand Bahama Port Authority’s (GBPA) two owners of asset stripping by transferring its productive economic assets to an affiliated entity and leaving Freeport’s quasi-governmental authority a regulatory shell with minimal income.
Prolonged Iran conflict increases tourism risk
The risk that The Bahamas will suffer a slowdown in tourist arrivals and spending is increasing with every day that the conflict between the US, Israel and Iran continues, an academic warned yesterday.
