UPDATED: BPL’s hedge mishandling to cost Bahamians $150m
Bahamians have been burdened with a $150m bill due to the mishandling of Bahamas Power & Light’s (BPL) fuel hedging strategy, it was revealed yesterday.
Gov’t revenues beat early goal by $50.6m
The Government’s top finance official yesterday said “close to $50m” in real property tax arrears has been collected during the 2022-2023 fiscal year’s first seven months as it seeks to crack down on tax and bill duckers.
Corporate income tax paper before Q1 end
The Government is hoping to release a public consultation paper on possible corporate income tax reforms before the 2023 first quarter’s end, it was revealed yesterday.
‘No new tax measures’ for $4bn revenue goal
The Government’s top finance official yesterday reiterated his optimism that “no new tax measures” will be required to grow its revenues by some 43 percent to over $4bn during the next four years.
Pintard slams ‘nonsensical’ fiscal strategy report delay
THE Opposition’s leader yesterday blasted the “nonsensical explanation” given by the Prime Minister for why the Government was two-and-a-half months late in releasing its key fiscal strategy document.
National debt forecast to peak at $11.462bn
THE Government yesterday forecast that the national debt will peak at $11.462bn in the next fiscal year with its ratio as a percentage of economic output declining steadily to 67.1 percent by 2026-2027.
Debt report’s ‘worrying story’ for The Bahamas
A GOVERNANCE reformer says a recently-released report on Caribbean debt levels tells a “worrying story” for The Bahamas and its regional counterparts as they battle to overcome the fall-out from countless hurricanes and COVID.
$800m Abaco project branded a ‘God-send’
ABACO’S Chamber of Commerce president yesterday said the $800m investment project targeted at South Abaco will be a “God-send” for the area’s residents.
Abaco Club opponents in partial Privy Council win
Activists yesterday won a partial Privy Council victory in their battle to prevent public interest legal challenges from being priced out of the Bahamian justice system.
Push reforms to make ‘real dent’ in corruption
The Bahamas can make “a real dent” in its anti-corruption standing if it passes four critical laws this year, a governance reformer argued yesterday, having “missed the opportunity” in 2022.
DPM targets 8m visitors for 2023
The Deputy Prime Minister yesterday forecast that 2023 tourist arrivals will hit the eight million mark with downtown Nassau’s British Colonial Hilton set to fully re-open by year-end.
Patients are warned: Brace for VAT ‘shock’
Bahamian patients were yesterday warned to brace for “a shock even at the smallest levels” as the change in VAT’s treatment of medical insurance claims payouts will further fuel already-soaring medical costs.
Bahamian liquidators say ‘no’ to DOJ FTX examiner
FTX’s Bahamian liquidators are opposing the US Justice Department’s bid for an investigator to probe the crypto exchange’s collapse on the grounds it is overkill and will cost creditors “tens of millions of dollars”.
Police: Reported financial crimes strike five-year low
TOTAL financial crimes reported to the Royal Bahamas Police Force (RBPF) fell to their lowest level for five years in 2022 with a near-30 percent decline compared to 2021.
Radio station blames COVID for closure
A BAHAMIAN radio station yesterday confirmed it will close today after COVID-19’s financial fall-out for advertisers eroded its main income source.
