Gov’t touts 26% VAT rise despite rate cut
The Ministry of Finance’s top official has touted a 26 percent VAT revenue increase, compared to pre-COVID numbers, for the first two months of calendar 2022 as a signal that the rate cut has not impacted government revenues.
‘Shocked’ at 106% spend jump for universal health
The Bahamas may never achieve universal health care (UHC) if it “kicks the can down the road another five years”, an ex-Cabinet minister warned yesterday, while voicing “shock” at estimates it needs to increase investment by 106 percent.
‘Incredibly prohibitive’: Retail tariff cuts push
Bahamian retailers were yesterday said to be seeking a meeting with the Government to press for tax cuts on multiple high-tariff items and remove an “incredibly prohibitive” barrier to increased local commerce.
Law compliance fear over BPL fuel costs
Concerns were voiced yesterday that Bahamas Power & Light (BPL) could potentially be violating the law by failing to fully pass its fuel costs on to residential and business consumers.
Bahamians must pay for benefits they want
A prominent financial analyst says Bahamians cannot expect to remain “a low tax jurisdiction” while expecting to enjoy the same social security benefits as developed nations.
‘Give gas dealers reward for no Easter shut down’
The Government was yesterday urged to give gas station operators some reward for letting “common sense prevail”, as the industry pledged “there’ll be no shut down on this island” over the Easter weekend.
‘We cannot let NIB go broke’
The Bahamas cannot “let the National Insurance Board (NIB) go broke”, top business executives warned yesterday, with financial analysts asserting: “You cannot kick the can down the road any further.”
‘No water from stone’ warning on cost hikes
The Government was yesterday warned it “cannot get water from a stone” with a likely National Insurance Board (NIB) contribution rate hike set to add to multiple cost increases facing the Bahamian private sector and consumers.
Post-Easter tourism is ‘higher than ever’
A top hotelier yesterday said tourism demand for the post-Easter weekend period is “higher than it’s ever been” and “going beyond the traditional ring fencing” that usually marks the peak winter season climax.
Nassau auto pool rises faster than population
New Providence’s transport system is not supporting its “economic, social, or environmental well-being”, an Inter-American Development Bank (IDB) report has affirmed, with the number of cars on-island growing faster than the population.
Airlines say fare rises are ‘almost automatic’
Rival airline operators yesterday said it is “almost automatic” that ticket prices will increase to partially offset soaring fuel costs after Bahamasair revealed its fares have risen.
Gas margin rise ‘non-starter’ despite fairness questions
A Cabinet minister yesterday ruled out increased margins for gas station dealers as “a non-starter” even though a major petroleum supplier conceded that current volatility “calls into question the fairness” of the industry’s pricing structure.
Out Island hotels ‘dial up volume’ to offset fuel hike
Out Island resorts are “dialling the volume up” on air fare and fuel credits in a bid to offset the impact of fuel price volatility on airline tickets, a senior executive has revealed, thus enabling them to avoid slashing room rates.
Gas station shut down to ‘bring country to halt’
A gas station shut down would “bring the country to a halt” and threaten the “nascent recovery” from COVID-19, a governance reformer warned yesterday, adding that such a move would be “ill-advised”.
Private bank worker’s $58k win overturned
A private bank employee has seen a $58,000 damages award against her former employer overturned after she breached its client confidentiality policies in deciding to complete work assignments at home.
