Small businesses urged: Delay lay-offs to October
Small businesses were yesterday urged to delay lay-offs until October, a sector consultant revealing over one-third of his clients are eyeing immediate cutbacks amid VAT-related “panic”.Mark A Turnquest told Tribune Business that while start-ups need
Retailers given until end-august for VAT pricing adjustments
Bahamian retailers have until August 31 to adjust prices for the 12 percent VAT, with top government officials yesterday expressing confidence that the transition will “not disrupt” commerce.Marlon Johnson, the Ministry of Finance’s acting financial
Realtor touts Bahamas as storm recovery hub
A Bahamian realtor is calling for hundreds of acres in inland New Providence to be set aside for a disaster relief and recovery headquarters serving The Bahamas and wider Caribbean.Mario Carey, founder of Better Homes and Gardens Real Estate MCR Baha
Govt 'kicks can down road' on Bahamasair
The government has admitted to again “kicking the can down the road” on Bahamasair’s $120m loan to spare hard-pressed taxpayers a further $25m burden.Dionisio D’Aguilar, minister of tourism and aviation, slammed the Christie administration’s “naivete
Central Bank: Client loss not like we thought
Growing tax compliance demands have not impacted the Bahamian financial services industry as badly as anticipated, the Central Bank is arguing, despite the sector’s continued contraction.The regulator, in its 2017 survey of the sector’s economic cont
BPL accepts ‘over 250’ staff leaving
Bahamas Power & Light (BPL) has accepted “over 250” voluntary separation (VSEP) requests from its existing workforce, trade union leaders said yesterday.
Attacks on VAT hike ‘misdirected’
Attacks on the 60 percent VAT rate hike are misdirected, a prominent attorney is arguing, with Bahamians focusing on the symptom - and not the cause - of their onerous taxation increase.
Bran backs tax hikes on 'toxic' gaming sector
The Democratic National Alliance’s (DNA) ex-leader has given his full backing to the web shop tax hikes, arguing that the industry has “been shown to be toxic” for Bahamian society.Branville McCartney, pictured, renewing his call for a national lotte
Doctors Hospital elects new chair
Doctors Hospital Health System (DHHS) Board of Directors has elected Felix Stubbs as its new chairman with effect from June 20, 2018.He replaces Joseph Krukowski, who retired from a post he held since 2003 following last Tuesday’s Annual General Meet
Top RBC executive says Bahamas' 'mojo' returns
THE Bahamas is getting its “mojo” back, according to Royal Bank of Canada’s (RBC) top Caribbean executive, who said: “We’re excited about The Bahamas’ prospects.”Speaking at RBC’s recent Client Service Centre launch, Rob Johnston added: “We are commi
Bahamas First in new Cayman HQ opening
Bahamas First Holdings has solidified its regional footprint by opening a new corporate headquarters for its subsidiary, Cayman First Insurance.Patrick Ward, Bahamas First’s group president and chief executive, Board members, management and employees
'Inadequate accounts' drive $360m in arrears
THE government’s $360 million in unfunded arrears is “entirely connected” to inadequate accounting systems and financial management processes, the deputy prime minister has revealed.K Peter Turnquest, pictured, told the Institute of Chartered Account
'Like white on rice' for fiscal responsibility bill
The government was yesterday urged to be all over the Fiscal Responsibility Bill “like white on rice”, as it will give Bahamians confidence their VAT sacrifice is not in vain.Robert Myers, the Organisation for Responsible Governance’s (ORG) principal
Island Luck staff brace for up to 350 job losses
Island Luck yesterday warned staff to brace for up to 350 job losses after it was “unsuccessful” in mitigating the impact of a 184 percent tax rate hike on its business model.The Bahamas’ largest web shop chain, in a memorandum to employees, said it
VAT gives Bran 'second thoughts' on major deal
The Democratic National Alliance’s (DNA) ex-leader yesterday revealed the VAT hike is “giving me second thoughts” about making a further major investment in the Bahamas.Branville McCartney told Tribune Business the Budget’s increased taxation measure
