‘Missing the point’ on VAT debt-cut purpose
Governance reformers yesterday voiced fears The Bahamas is losing sight of VAT’s central debt-reduction purpose amid the fevered political debate over the 10 percent rate cut.
DPM: Yachting fees ‘unconscionably’ low
The deputy prime minister yesterday unveiled ambitions to make Exuma “the yachting capital of the hemisphere” despite branding taxes yielded by the sector as “unconscionably” low.
Resort aims to bridge 36% T&C rates gap
An Exuma-based resort yesterday said it is striving for “five-star rock star” performance to match high-end Turks & Caicos rivals and bridge a 36 percent room rate gap.
DPM praises ‘exceptional’ Sandals 95% occupancy
The deputy prime minister yesterday hailed Sandals Emerald Bay’s “exceptional” 90-95 percent slow season occupancy levels with the resort chain eyeing further Bahamas expansion.
‘Leave Nassau and boost Exuma skills’
A senior tourism official yesterday urged Nassau residents to move to Exuma and improve service levels that are “lacking” in a market increasingly catering to high-end tourists.
‘The truth and the dangerous’
The Prime Minister’s assertion of “a $1bn difference” between the pre-election fiscal report and “the truth” was yesterday branded “reckless and dangerous” by his predecessor.
Coalition chief optimistic VAT cut to boost revenue
The Coalition for Responsible Taxation’s head yesterday voiced optimism that the 10 percent VAT slash will generate more revenue than the current structure once zero ratings are eliminated.
PM targeting $550m annual revenue rise
The Government will have to increase its annual income by more than $550m to hit the Prime Minister’s target of achieving a 25 percent revenue-to-GDP ratio by the time his term in office ends.
Banks not ‘betting against economy’
Top bankers yesterday rejected the Prime Minister’s assertion that they are “betting against The Bahamas’ economy” after it was revealed that a recent bond issue was just 40 percent subscribed.
BPL scrubbed 5,000 vendors due to fraud
Bahamas Power & Light (BPL) scrubbed some 5,000 suppliers from its vendor database in response to the $1.9m “fraudulent cheques” scam that relied heavily on non-existent companies.
Lightning strike adds to hotel’s $3m supply woe
A prominent Grand Bahama hotel yesterday said its $3m room renovation has fallen victim to global supply chain disruption with a recent “lightning strike” creating further complications.
Regulator loses $116k roof repairs strike-out
The Central Bank’s bid to strike out a Bahamian contractor’s $116,000 claim for breach of contract relating to roof repairs has been rejected by a Supreme Court judge.
Sale of Doctors’ new GB home in November close
The sale of Doctors Hospital’s new Freeport home will represent the final asset disposal for a former BISX-listed company when it completes next month, Tribune Business can reveal.
BPL chief had to deal with rogue purchases
Bahamas Power & Light’s (BPL) chief executive dealt with “a significant issue” by warning staff they faced termination if goods and services were purchased outside established protocols.
Activist slams climate hypocrisy on oil drilling
An environmental activist yesterday accused slams the Government of hypocrisy for its stance on oil exploration ahead of the upcoming global climate change summit.
