Insurers warn that VAT reversal ‘totally asinine’
Insurers have warned the Government it would be “totally asinine” to reintroduce VAT on residential homeowner premiums given that this will create a multi-million dollar hurricane liability for itself.
Gov’t urged: Fix price control approvals fast
Super Value’s principal is urging the Government to provide “instant” price control approvals to minimise cost of living increases, inventory loss and general supply chain disruption.
Red Lobster franchise eyeing spin-off brand
The franchise group responsible for bringing Red Lobster to The Bahamas is planning to launch a “smaller footprint” chain of seafood restaurants in this nation in 2022.
Central banks love to print money
ActivTrades
Except for a few countries, Germany being a noticeable example where the use of physical cash to settle everyday transactions remains high due to cultural reasons, payment by electronic means is becoming more and more common.
RODERICK A. SIMMS II: Revive the National Development Plan
The COVID-19 pandemic has generated uncertainty around the fate of economic and social development in The Bahamas. While these uncertainties present unique opportunities for growth, having growth plans already in place is be one of the most effective ways to help countries recover from the pandemic’s devastating fall-out.
Baha Mar unveils latest restaurant
Baha Mar has revealed that its latest restaurant option will open at its Grand Hyatt property on December 20, 2021.
BPL $535m bond ‘too late out gate’
The Minnis administration was “too late getting out the gate” on Bahamas Power & Light’s (BPL) mammoth $535m refinancing, an ex-union president said yesterday.
‘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.
