Oil explorer targeting 'window of opportunity'
An oil explorer is aiming to seize “the current window of opportunity” to drill its first Bahamas well after five years of regulatory and oil price-related delays “abated”.Simon Potter, Bahamas Petroleum Company’s (BPC) chief executive, told sharehol
VAT hike puts further strain on cook-outs
“Cook-out” targets will have to increase due to the VAT rate hike, a well-known insurer yesterday warning that 85 per cent of healthcare costs will not benefit from planned tax exemptions.Emmanuel Komolafe, the Bahamas Insurance Association’s (BIA) c
Family Islands urge: ‘tax web shops to the hilt’
Family Island businessmen yesterday urged the government to “tax the web shop industry to the hilt” because it has left many communities “in shambles”.
Bahamasair aims to reduce staff by 100
BAHAMASAIR is targeting $20m in top-line growth over the two years to end-2019, its managing director said yesterday, as it plans to shed 100 staff within 24 months.Tracy Cooper told the Caribbean Aviation Meet-up 2018 conference that, over the next
ART OF GRAPHIX: The art of giving a good critique
Criticism is not easy to take regardless of how it is served. It can be a giant pill to swallow, especially if delivered by a fellow designer. But constructive criticism is a part of the business that is bound to pop up sooner or later. A good design
$10m oil waste treatment project to create 30 jobs
A $10m joint venture will create 30 jobs and add value to Freeport’s maritime sector through the treatment and recycling of ships’ oil waste. Executives from Portugal-based Eco-Oil Ltd and Queensway Navigation arrived on Grand Bahama yesterday for th
Bahamas exposed to US travel agents
Travel agents from Atlanta and New York familiarised themselves with The Bahamas’ tourism offerings on a trip that was part-sponsored by Delta Airlines.Their visit included Nassau as well as some of the Family Islands, such as the Exumas and the Abac
Vacation rental VAT not in 18-19 budget
The government’s plans to levy value-added tax (VAT) on vacation rentals will be introduced by legislation after the current budget cycle, the minister of tourism has revealed.Dionisio D’Aguilar told Tribune Business: “The government is considering l
Web shop patrons face $20m tax bill
Web shop taxes will increase by a minimal sum as a result of budget hikes that could extract $20m per annum from Bahamian gaming patrons, new studies suggested yesterday.The Bahamas Gaming Operators Association (BGOA), in its latest salvo against tax
Web shops face 'year of famine' on 'sweet spot'
Web shop operators may have to endure “a year of famine” to find the industry’s taxation “sweet spot”, a Cabinet Minister yesterday urging: “Let the Bahamian people be the judge.”Dionisio D’Aguilar, minister of tourism and aviation, called on the sev
Super Value chief: Abandon all exemptions for 10% VAT
Super Value’s principal yesterday argued that a ten percent VAT could achieve the government’s fiscal goals if it abandons its multiple tax exemptions.Rupert Roberts, pictured, told Tribune Business that the Minnis administration should “claw back” t
Gaming $101m income boost 'very difficult to replace'
Web shop advisers have warned that the $101m in annual salary income generated by the sector will be “very hard to replace” if the budget’s tax hikes result in mass lay-offs.A June 2018 report by the Oxford Economics consultancy, commissioned by the
Winning landfill bid chosen by June 25
The government plans to select the winning bidder for the New Providence landfill management contract by June 25, a Cabinet minister said yesterday.Romauld Ferriera, pictured, minister of the environment and housing, said a ‘Letter of Award’ would be
Gov't told: 'Strengthen' fly fishing regulations
THE Bahamas Fly Fishing Industry Association’s (BFFIA) president yesterday urged the government to “strengthen and not water down” regulations governing the industry. Prescott Smith told Tribune Business: “The Minister has said that they were going t
Aliv confirms readiness for 2018 storm season
Aliv yesterday moved to reassure Bahamians that its nationwide infrastructure was fully prepared to withstand a 2018 hurricane season projected to feature 13 named storms.Damian Blackburn, the mobile operator’s top executive, said: “We have ensured t
