Govt targets $3m travel visa surplus
The government is aiming to generate a net $3m surplus from the COVID-19 health travel visa scheme in the upcoming fiscal year, with one Cabinet minister saying: “We have to live within our means.”
Real estate tax breaks not a difference maker
A realtor believes that the government’s VAT waivers/discounts on southern Family Island real estate sales will have minimal impact unless accompanied by access and infrastructure upgrades.
Family Islands back tax breaks strategy
Businesses in the southern Family Islands say the government appears to “have a lot of money it is throwing around” pre-election as they praised its move to designate the area a “special economic zone”.
Small business owner lacks faith in tax breaks
A small business owner says his struggles to obtain government assistance in the past mean he has little faith he can access the investment incentives set out in the 2021-2022 Budget.
‘Very confident’ of 80% rebound by mid-2022
The Ministry of Finance’s top official yesterday predicted the Bahamian economy will regain 80 percent of its pre-COVID capacity by June 2022 with key taxes forecast to rise by a similar magnitude.
Taxpayer job ‘band aid’ no longer viable
A Cabinet minister yesterday admitted successive administrations have used taxpayer funds as “band aids” to cover up their failure to grow the Bahamian economy and create sufficient jobs.
$10bn national debt ‘elephant in the room’
A Cabinet minister yesterday admitted that The Bahamas’ near-$10bn national debt is “the elephant in the room” that can potentially wreck this nation’s post-COVID economic recovery.
Govt urged to delay 12% VAT realty hike
The government was yesterday urged to postpone implementation of the 12 percent VAT rate on high-end real estate deals for two months so as not to derail transactions “already in the pipeline”.
Bahamas ‘can’t alter taxation on a dime’
The Bahamas “does not have the luxury of changing its tax system on a dime”, a Cabinet minister argued yesterday amid escalating pressures for a minimum global corporate tax rate.
‘Deadly’ debt costs breach $1/2bn mark
The government’s annual debt servicing (interest) costs were yesterday branded “deadly” after they breached the $500m mark to now exceed combined health and education spending.
‘Makes no sense’: Realtors challenge tax crackdown plan
Prominent realtors yesterday warned that the government’s plan to target delinquent commercial property owners by seizing their tenants’ rent “makes no absolutely no sense”.
Tourism chief hails ‘long overdue’ $31m Airbnb tax increase
The Bahamas Hotel and Tourism Association’s (BHTA) president last night hailed the government’s bid to extract an extract $31m from the vacation rental market as “levelling the playing field”.
‘Ready, willing and able’ on Abaco port
Abaco’s Chamber of Commerce president yesterday said the private sector was “ready, willing and able” to secure the island’s main port and ensure direct shipping from the US continues.
Bran: Don’t leave medical marijuana to ‘privileged few’
A former Cabinet minister yesterday voiced fears that the $10,000 medical marijuana licence fees are “cost prohibitive” and will restrict entrepreneurial participation to “the privileged few”.
Bahamas granted waiver for $100m World Bank loan
The World Bank yesterday gave The Bahamas “special dispensation” to qualify for a $100m loan that forms part of the government’s 2020-2021 borrowing strategy.
