Don’t let $1bn arrears be tax reform let-off
The Government’s self-proclaimed $1bn in tax arrears must not become an excuse for failing to “bite the bullet” on reform, a private sector tax chief said yesterday, describing such thinking as “a fool’s errand”.
Abuse not an excuse to alter Dorian tax breaks
Abaco’s Chamber of Commerce president yesterday urged the Government not to use abuse of Hurricane Dorian-related tax breaks as an excuse to narrow or prematurely end his island’s “special economic zone” status.
Bahamas urged: Target 80% in next aviation safety audit
The Bahamas must target a “high 70s-80 percent score” on its next aviation safety audit and match the world’s best, an attorney said yesterday, adding: “We’ve made great strides in a short span of time.”
Cement shortage raises fears of 20% price hike
Cement shortages have hit the Bahamian construction industry at least three times in the past month, it was revealed yesterday, with suppliers yesterday suggesting the backlog will cause a 20 percent cost hike for the sector.
Retailers in pick-up for Mother’s Day
Florists and gift shops yesterday said they have been receiving “plenty of orders” with Mother’s Day fast approaching, adding that business volumes were holding up well compared to pre-COVID figures.
Individuals blamed over Dorian tax break abuse
Grand Bahama businesses yesterday said individuals, rather than companies, were the likely culprits abusing the Dorian-related Special Economic Recovery Zone (SERZ) privileges to evade due taxes.
IAN FERGUSON: The advantages to buying Bahamian
The Bahamas presently imports more than $5.5bn in goods and services annually. Over 94 percent of our food is imported from the US and our other trading partners. For many years we have lamented these statistics, but have not made significant strides towards changing this reality.
Managers in three-year wait for $821k owed by PI resort
Hotel managers and their union have now been waiting “almost three years” to recover a collective $821,292 allegedly owed to them by a shuttered Paradise Island resort, it was revealed yesterday.
‘Foolhardy’ if BISX to neglect digital assets
The Bahamas International Securities Exchange (BISX) is “actively pursuing opportunities” in digital assets, its chief executive disclosed yesterday, adding: “We’d be foolhardy to do otherwise.”
Gov’t revenue $210m ahead of projections
The Ministry of Finance’s top official yesterday the Government revenue is $210m above forecast for the 2021-2022 fiscal year-to-date and is expected to maintain that momentum through to end-June..
Inflation ‘hurricane’ for property owners
Homeowners and businesses have been warned that soaring inflation could leave them under-insured as the 2022 hurricane season looms, with one underwriter describing catastrophe cover as an “expensive but necessary evil”.
Gov’t drove 59% of $523m reserve rise
The Government accounted for 59 percent of the 2022 first quarter’s $523m rise in The Bahamas’ foreign currency reserves, the Central Bank’s governor has revealed, although the banking sector subsequently took on the greater share.
BTC revenues up 6% as subscribers decline
The Bahamas Telecommunications Company’s (BTC) revenues increased by 6 percent year-over-year for the 2022 first quarter as the carrier continued its steady recovery from the lows caused by the COVID-19 pandemic.
Thirty firms to attend Labour on the Blocks
Some 30 companies will be present at this weekend’s Labour on the Blocks 2.0 job fair, the Department of Labour announced yesterday, as it bids to reduce unemployment by bringing work opportunities to local neighbourhoods.
Minister eyes Disney jobs boost for his constituents
A Cabinet minister yesterday said Disney Cruise Line plans to stage another job fair in his South Eleuthera constituency so that residents have first chance to secure the extra 180 construction jobs at its Lighthouse Point project.
