PM says dealers 'impacting themselves' with diesel halt
The Prime Minister yesterday said his "technical team" is working on a resolution to the petroleum dealers' margin increase demands as many continued the halt to diesel sales for a third day.
Legal reforms set to ban pyramid selling schemes
The Prime Minister yesterday unveiled plans to strengthen protections for Bahamian consumers through legal reforms that will ban "pyramid selling schemes" and allow regulators to issue warning notices over "harmful business practices".
PM: We might as well get 15% corporate tax revenue
The Prime Minister yesterday extended the corporate income tax consultation period by almost two months to end-August 2023 as he reassured that the Government has not decided upon "any particular policy action".
Registered agents take on substance reporting burden
The Attorney General yesterday said financial services providers will have to do economic substance reporting for all entities where they act as the registered agent if The Bahamas is to escape Europe's 'blacklist' this year.
'Screeching economic halt' if diesel stop lasts 10-14 days
Bahamians could "see a totally different economy" if the decision by most petroleum dealers to halt diesel sales lasts for up to two weeks, a well-known contractor warned yesterday.
Corporate tax certainty 'vital' to Freeport future
Grand Bahama's Chamber of Commerce president yesterday said it was "vital" to business certainty and investor confidence that Freeport gain clarity on whether, and how, corporate tax will be implemented in the Port area.
Gas stations argue Business Licence 'further strangles' us
The Bahamas Petroleum Retailers Association's vice-president says he backs the introduction of a corporate income tax to replace Business Licence fees that "further strangle us".
Town Planning rejected Lyford Cay condo advice
Lyford Cay residents will today bid to block a controversial condo project, which speculation previously linked to FTX, after planning authorities approved the doubling of its height beyond that recommended by their technical advisers.
DIESEL SALES HALT TO LAST UNTIL MARGIN RESOLUTION: However, sites owned by FOCOL continue to make fuel available
Bahamian petroleum retailers have "no intent to disenfranchise the motoring public", their president asserted yesterday, as he warned that the halt to diesel sales will "go on until such time" as their plight is resolved.
URCA in 'final touches' on third mobile player review
Regulators are completing the "final touches" to their assessment of whether The Bahamas can sustain a third mobile operator and have submitted their recommendation to the Government for its final decision.
URCA's battery storage review to aid renewables
The Utilities Regulation and Competition Authority (URCA) has launched an informal consultation process over "battery energy storage integration" as it seeks to facilitate greater adoption of renewable energies.
Bank shrugs off $2.8m fee rise to 'beat target by 54%'
Commonwealth Bank yesterday revealed its $19.58m first quarter profits "exceeded expectations by 54 percent" despite having to contend with a more than one-third year-over-year increase in licence fees.
PI Wendy's: Bank restriction expired almost 50 years ago
The only firm restriction governing how the disputed ex-Scotiabank location on Paradise Island can be used expired almost 50 years ago in 1975, Tribune Business can reveal.
Corporate tax 'driven' by revenue demands
The Government's corporate income tax proposal is "driven" by the need to increase revenues and could "be a gateway" to further progressive reforms that ultimately include a personal income tax, a governance reformer said yesterday.
'Anyone who wants diesel able to buy it'
FOCOL Holdings chairman yesterday voiced optimism that "anyone who wants to buy diesel on this island can get it" even though "the majority" of petroleum retailers were said to have stopped sales of this fuel.
