March air arrivals near to 75% of pre-COVID
Tourist arrivals to The Bahamas increased almost ten-fold in March 2022 compared to the prior year aided by the continued easing of COVID-related border restrictions and a rebound in global travel, it was revealed yesterday.
Ex-BACO president in ‘non-compete’ dispute
A past Bahamas Association of Compliance Officers (BACO) president was yesterday said to be free to “engage in her profession” after a Florida appeals court refused to extend a non-compete injunction relating to a two-year legal battle.
New union body’s ‘breath of fresh air’ targets more members
The Bahamas Taxi Cab Union’s (BTCU) president yesterday cited unspecified “political interference” as the reason for why it has defected from the Trade Union Congress (TUC) and joined a new umbrella union body.
‘Swinging for the fences’ as tax breaks hit $486m
The Government is “doing a bit of swinging for the fences” in its future revenue projections, a governance reformer believes, amid indications $486m in tax concessions were granted during the first nine months of the 2020-2021 fiscal year.
All truss-ed out on Budget’s tax cuts
A Bahamian contractor yesterday warned that the Government’s decision to eliminate 20 percent duty on imported roof trusses will “put us out of business” in a segment that has kept his overall operation afloat.
‘Game changer’: Out Islands to retain to 25% of revenue
Family Island economies will ultimately retain a minimum 25 percent of real property taxes and Road Traffic fees generated on their specific islands through legislation that was yesterday described as a potential “game changer”.
The Fed’s latest conundrum
ActivTrades
OVER the last six months, inflation fears have focused the attention of policymakers, economic agents and investors. Central banks have tilted towards a more hawkish stance, while headline-grabbing rises in the cost of living came to dominate the media narrative. In the markets, dynamics shifted dramatically. Risk appetite evaporated, stocks tumbled and bonds were sold.
FINAL DEMAND: Tax arrears rocket $260m in blow to revenue targets
The Government is owed more than $261m in “outstanding arrears” that were due for payment from three key revenue streams within the 21-month period to end-March 2022, it has been revealed.
Law’s ‘inflexibility’ forces $251m extra borrowing
The Ministry of Finance’s top official yesterday hit out at the “inflexibility” of the Government’s own financial management laws for forcing it to seek parliamentary approval to borrow an extra $251.4m.
Family Island companies struggle with price rises
Family Island businesses yesterday said they are struggling to contain prices as they grapple with soaring inflationary pressures impacting the entire world.
AML: 8,000 sign-up for shopper loyalty move
AML Foods says more than 8,000 consumers have already signed up for its latest loyalty initiative that has been launched to help Bahamians combat soaring inflation.
Top aviation body: Delay Customs regime to 2023
The world’s largest aviation association is urging The Bahamas to delay implementing a new border entry and exit regime for private pilots until early 2023 amid fears the process will be “very tedious, cumbersome and unintuitive”.
Fears VAT grab will ‘kill’ marina industry
The Association of Bahamas Marinas (ABM) president yesterday warned that reforms set to more than triple the tax rate imposed on foreign yacht charters will “kill” an industry that last year directly injected $122m into the economy.
Moody’s: Multiple ‘risks’ to Gov’ts fiscal forecast
Moody’s last night warned of multiple “risks” to the Government’s fiscal consolidation projections due to the absence of any tax increases in the just-unveiled Budget, while spending restraint will “weigh on economic growth”
Gas dealers ‘shocked’ at margin rise rule-out
Petroleum dealers yesterday said they were “shocked” after the Government ruled out increasing their per gallon margins despite a Cabinet minister revealing it was working to offer alternative help.
