Nassau to host key aviation conference
The Caribbean region’s largest aviation conference will take flight in Nassau this June, bringing together major industry players and investors for three days of discussions.The third annual Caribbean Aviation Meet-up is scheduled for June 12-14, wit
Spongers agree deal for processing centre
The Bahamas Commercial Spongers Association (BCSA) has signed two contracts to lease and renovate a building as part of efforts to revive the industry.The contracts were signed on May 31, 2018, for a building that will become a sponge processing plan
BCA: VAT hike to shut 40% of construction sector
The VAT rate hike will force 30-40 percent of Bahamian contractors out of business, the government was warned yesterday, while reducing this nation to “a tourism-only economy”.
Developer: 'Millions on the line' through VAT structure alter
A prominent Bahamian developer yesterday warned “millions of dollars are on the line” through budget tax changes that make it “impossible” for real estate projects to claim back VAT.Jason Kinsale, president of Aristo Development, told Tribune Busines
Fiscal hawk: Reject IMF on revenue ratio
The Bahamas was yesterday urged by a well-known “fiscal hawk” to strive for the “lowest revenue ratio in the Caribbean” and reject the IMF and credit rating agencies’ advice.Rick Lowe, an executive with the Nassau Institute think-tank, told Tribune B
Gov't financial systems 80% below maximum
The government’s financial management systems remain “below global standard” and have seen “limited improvement”, scoring 80 percent below maximum in their last assessment.An Inter-American Development Bank (IDB) report on The Bahamas’ “fiduciary sys
$400m extra VAT 'more than risky'
The Government’s forecast of $400m in extra VAT revenues is “more than risky”, the Exuma Chamber of Commerce’s president warning: “I can almost guarantee it won’t happen.”Pedro Rolle yesterday told Tribune Business that the 60 per cent VAT rate hike’
Nassau Flight Services privatisation 'six to eight months away' from end
The Government’s bid to privatise Nassau Flight Services (NSF) is “probably six to eight months away from coming to a conclusion”, a Cabinet minister has revealed.Dionisio D’Aguilar, minister of tourism and aviation, said the potential sale of the go
$6m tour operator to create 70 jobs
A $6m tour operation will create 70 jobs within its first year when it begins to expose Eleuthera to thousands of tourists from 2019 onwards.Tourism Adventures plans to launch a fast ferry that will take 500 guests per day from Nassau to Eleuthera in
VAT hike to shut 40% of construction sector
The VAT rate hike will force 30-40 percent of Bahamian contractors out of business, the government was warned yesterday, while reducing this nation to “a tourism-only economy”.Leonard Sands, the Bahamian Contractors Association’s (BCA) president, tol
$360m arrears 'dive in' not in national interest
The government’s rush to pay-off its $360m arrears is “not in The Bahamas’ best interest”, a former finance minister yesterday warning of the VAT hike: “The timing couldn’t be worse.”James Smith, who held the post from 2002-2007, told Tribune Busines
Hotels 'push' on VAT amid 39% revenue growth
The 39 per cent increase in 2018 first quarter room revenues illustrates what was at stake when the hotel industry yesterday met the Government over its planned VAT hike.The Central Bank of The Bahamas’ monthly report for April, released last night,
Insurance chief 'speechless' at govt's VAT contradiction
The Bahamas Insurance Association’s (BIA) chairman was yesterday left “speechless” after the government seemingly contradicted itself over VAT’s elimination from residential property premiums.Emmanuel Komolafe, pictured, said he was now questioning t
Sands: No escape on fiscal 'come to Jesus'
The Bahamas would not have escaped its fiscal “come to Jesus moment” even if the Christie administration had been prudent with its VAT windfall, a Cabinet Minister argued yesterday.Dr Duane Sands, pictured, minister of health, told Tribune Business t
Surplus bank funds breach $2bn barrier
Bahamian commercial banks had more than $2bn in funds they were unable to find qualified borrowers for at end-April 2018, it was revealed yesterday.The Central Bank of The Bahamas’ monthly report for the month, published yesterday, disclosed that exc
