Web shop industry: 2,000 jobs will be lost due to tax hikes
The web shop industry yesterday warned that 2,000 jobs will be lost, and 75 per cent of its locations will close, if the Government follows through with aggressive triple-digit tax hikes.
Contractors seek VAT 'waiver', six month transition
Bahamian contractors yesterday pledged to seek a “waiver” or six-month transition to 12 percent VAT to prevent those locked into existing contracts from being “wiped out”.Leonard Sands, pictured, the Bahamian Contractors Association’s (BCA) president
12% VAT only escape from 'double whammy'
The deputy prime minister yesterday said a 12 percent VAT was the only way to avoid “a double whammy” for the Bahamian people in closing a $400m budget “gap”.KP Turnquest, kicking-off the budget debate in the House of Assembly, said the Government’s
$75m for Over-The-Hill sewerage infrastructure
A project to connect two-thirds of over-the-hill residential dwellings to a centralised sewerage system will cost $74.659m, the Water & Sewerage Corporation’s chair revealed on yesterday.
Hotel relief on VAT transition extension
The Bahamas’ largest industry yesterday breathed a sigh of relief after the government agreed to an extended VAT transition beyond July 1 for pre-booked business.Suzanne Pattusch, the Bahamas Hotel and Tourism Association’s (BHTA) executive vice-pres
THE ART OF GRAPHIX: Forward-looking design that never goes back
The only time we should ever look back in life is to see how far we have come. This is definitely something to ponder considering the many challenges, failures and disappointments that sometimes seem to follow us each day.Whether we believe in this m
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
