'Make current taxes work before the income option'
The private sector is urging the Government to eliminate wasteful spending, and collect all revenues currently on the books, before it hits businesses with new and/or increased taxes.
Canada in new ‘stumbling block’ for tourism’s revival
Canada's decision to halt all flights by its airlines to The Bahamas until April 30 was yesterday branded "another stumbling block along the road to recovery" for this nation's battered tourism industry.
Police seize over $20k fake currency
Police seized more than $22,000 in counterfeit Bahamian currency last year even though the ratio of fake notes to genuine bills appears to be dropping.
Govt ‘discussing’ income tax reform
The government has already started discussing potential income tax reforms, the IMF revealed yesterday, although it has admitted any changes will take “years” for The Bahamas to implement.
IMF calls for austerity in the ‘hundreds of millions’
The International Monetary Fund (IMF) yesterday exposed the harsh austerity Bahamians face post-COVID by urging the government to increase its “net income” by more than $300m over four years.
IMF fears 13,500 missed benefits
Some 13,500 "informal economy" workers may have missed out on COVID unemployment benefits, the IMF said yesterday, adding that "execution fell short" on some government assistance initiatives.
Auditor General set to probe COVID spending
The government has pledged that the Auditor-General will probe all COVID-19 related spending and revenue losses in bid to uncover any “irregularities”, the International Monetary Fund (IMF) revealed.
Finlaysons lose battle to halt $2.2m tax debt sale
The Finlayson family yesterday lost its bid to overturn a Supreme Court order compelling the sale of a downtown Bay Street property to settle a near-$2.2m tax debt owed to the government.
Baha Mar chief urges rapid vaccination for tourism revival boost
Baha Mar’s president yesterday urged the government to fully vaccinate The Bahamas against COVID-19 “as quickly as possible” so as to give tourism’s recovery a “competitive advantage”.
US travel advisory ease a ‘big boost’
The Bahamas Hotel and Tourism Association’s (BHTA) president yesterday hailed the US easing its health travel advisory on the country as “a big boost” for the economy’s largest industry.
$180,000 NIB fraud conviction is upheld
A former accounting firm employee yesterday failed to overturn her conviction for defrauding the National Insurance Board (NIB) of $180,000 that was earmarked for the government’s housing initiative.
Govt rejects Moody’s deficit financing fears
A top Ministry of Finance official yesterday rejected an international rating agency’s concerns that the government may not be able to finance its massive borrowing needs for the 2021-2022 fiscal year.
Baha Mar’s 2021 revenues ‘40% less’ than pre-COVID
Baha Mar’s president yesterday said 2021 revenues are forecast to be “40 percent less” than pre-COVID levels as it prepares to recall 700 staff for the March 4 opening of its Rosewood and SLS hotels.
US TRAVEL HEALTH UPGRADE IS ‘WELL DESERVED REWARD’
Hotel operators yesterday said The Bahamas' imminent travel upgrade by US health regulators was "a well deserved reward" for cutting its COVID-19 cases and may create a competitive advantage.
Cooper: Bahamas faces EU ‘moving the goal posts’
The Opposition's deputy leader yesterday voiced fears that the European Union (EU) will soon "move the goal posts" on The Bahamas again when it comes to tax and anti-financial crime regulation.
