Ex-AG’s warning of ‘disastrous consequences’ on law’s reform
A former attorney general is warning that legal reforms intended to combat real estate-related VAT evasion will have “disastrous consequences” for the industry and all related sectors if passed as is.
Realtor’s commission bid on $57m sale dismissed
A Bahamian realtor’s bid to be paid a 4 percent commission on the $57m sale of a prominent Lyford Cay property has been dismissed by the Supreme Court.
Gov’t touting vendor arrears cut, eyes accounting switch
The Government says it has further slashed payables owed to its vendors by a sum equal to 0.4 percent of gross domestic product (GDP) as it bids to switch to accrual-based accounting within two years.
Union chief ‘blindsided’ by civil service wage increase
The Bahamas Public Services Union (BPSU) president yesterday said he was “blindsided” by the Prime Minister’s pledge of imminent civil service pay rises and a $112m jump in the Government’s wage bill.
PM: Rating goal ‘ambitious’, may be longer than 3 years
The Prime Minister yesterday conceded his three-year timeline for restoring The Bahamas to ‘investment grade’ status is “ambitious” but asserted that achieving this is more important than how long it takes.
Opposition MP hits ‘desperation’ over $100m VAT evasion
An Opposition MP yesterday asserted the Government is enacting “desperation” measures to crack down on tax avoidance said to be costing it $100m annually, warning: “One day the well will run dry.”
PM accused of ‘deflection’ over $120m Grand Lucayan proceeds
The Opposition’s finance spokesman yesterday accused the Prime Minister of “deflection” after he failed to answer how much of the $120m Grand Lucayan sales proceeds have been paid to the Government.
PM: $1m VAT crackdown to stop Treasury losing out
The Prime Minister yesterday asserted that cracking down on VAT deductions for construction projects worth over $1m will ensure the Public Treasury no longer loses out to “private interests”.
KEITH ROYE II: Don’t get trapped by life in front of a screen
In today’s turbocharged digital economy, “always online” has become more than a convenience for it is now an expectation.
'Phenomenal' Apple Pay first as bank's profit up 6%
Commonwealth Bank yesterday disclosed it has become the first bank in the Caribbean to offer Apple Pay to clients after beating first quarter profits from a record-setting 2024 by 6.3 percent.
'Cloak and dagger' Budget backfires over VAT reclaim
The Government was yesterday urged to abandon the "cloak and dagger approach" sparking undue business alarm over reforms such as the VAT deduction restriction for "major" construction projects.
'Bit of danger' for banks on conveyancing reform
Banks and other mortgage lenders will face "a bit of a dangerous scenario" if reforms rendering all real estate transactions as "void" until recorded are passed by Parliament.
PM: Freedom of Information Act not currently a priority
The Prime Minister yesterday confirmed fully funding the Freedom of Information Act's implementation and other anti-corruption mechanisms is not a priority for his administration which is focused on relieving the cost of living crisis.
PM: 'We've lived up to worker promises'
The Prime Minister yesterday asserted that his administration has “lived up to the promise we made to workers” in the August 2021 pact signed with the two umbrella trade union bodies.
Harbour’s $12m upgrades to help ‘keep prices down’
The Government’s $12.16m investment in restoring Nassau Harbour’s two breakwaters will help stabilise goods prices by minimising weather-related shipping disruption, it was asserted yesterday.
