Analyst: VAT hike to 15% 'inevitable'
A leading financial analyst says a VAT rate hike to 15 percent is “inevitable” within two years of the next election as he called for a shift to a more progressive system via personal and corporate income tax.Anthony Ferguson, CFAL’s principal, speak
‘No difficulties’ over $150m airport raise
The government “sees no difficulty” in securing private financing to kickstart the bulk of its “over $150m” Family Island airport redevelopment ambitions, a senior official told Tribune Business yesterday.
Don’t ‘dilute tourism’ through incentives
Government and tourism industry executives are arguing it is too early to use incentives to reboot the country’s number one industry, with one warning against “diluting existing business”.
Marinas: We didn’t ask for cruise permit waiver
Bahamian marinas have denied that they are behind the tourism industry recovery plan’s call for the government temporarily waive cruising permit fees in a bid to attract boaters back to these waters post COVID-19.
Bahamasair cutting its summer schedule by 20%
Bahamasair yesterday said it is planning a 20 percent cut to its summer schedule after incurring $18.5m in revenue losses and unfunded costs due to the combination of Hurricane Dorian and COVID-19.
Tourism payroll given $2m more than needed
A Cabinet minister has admitted that his ministry's payroll was over-budgeted by $2.5m for the 2019-2020 fiscal year and has now been returned to normal levels by the new Budget.
COVID-19 costs Mall retailers 40% of sales
Mall at Marathon retailers yesterday voiced optimism that business activity will rebound swiftly after the COVID-19 lockdown cost some between 30-40 percent of their annual sales.
How compliance can assist with adaptation
“Strategy”, “new normal”, “pivoting” and, most recently, “agility” have been among the most popular buzz words and topics employed by speakers and presenters from around the world in recent months.
Jitneys drivers eye licensing extension
Jitney drivers yesterday asked the government for two months’ grace to licence their vehicles as they prepare to return to the roads on July 1 after a two-and-a-half month absence.
Marinas aim to save '75% of the summer'
Bahamian marina operators yesterday hailed the sector’s June 15 reopening as potentially “saving 75 percent” of the peak summer season, adding: “Our phones are ringing off the hook.” Joseph Dargavage, pictured , managing partner at Harbour Island’s
Govt extends termination payout date
A Cabinet minister yesterday confirmed that the government has extended the 12-week mandatory redundancy payout deadline to 30 days past the end of the emergency protocols. Dion Foulkes, minister for labour, said the move was designed to prevent per
Govt halts $130m civil service spend
The government has halted the $130m initiative designed to upgrade civil service skills and transform its delivery of public services to the Bahamian people, the 2020-2021 budget reveals.A close examination of the government’s spending allocations re
Architects urge Building Control reform speed-up
Bahamian architects yesterday urged the prime minister to focus on “the low hanging fruit” of the Building Control Department (BCD) in his efforts to “bulldoze red tape” following the COVID-19 pandemic. The Institute of Bahamian Architects (IBA), vo
Minister: Bahamas Ltd 'must get going again'
The Bahamas “can’t afford” to keep its tourism industry shut any longer, a Cabinet minister warned yesterday, as he admitted that the threat posed by COVID-19 can only be “mitigated, not eliminated”.Dionisio D’Aguilar, minister of tourism and aviatio
NHI providers: Only one third trained in tele-health
Just one third of the National Health Insurance (NHI) scheme’s primary care providers have been trained in tele-health systems that cover around 20,000 patients, it was revealed yesterday.Dr Monique Thompson, the NHI Authority’s manager of healthcare
