Retailers slam 'unacceptable' warning on taxation changes
Bahamian retailers yesterday said a one-month transition was not enough time to adjust to a 12 percent VAT, blasting the lack of consultation with the sector as “unacceptable”.Tara Morley-Nolan, the Bahamas Federation of Retailers (BFR) co-chair, sai
'Tremendous anxiety' over WTO accession
The Chamber of Commerce’s chairman yesterday warned there was “tremendous anxiety” over the WTO accession amid the absence of analysis on its likely impact.Michael Maura, addressing the National Conclave of Chambers of Commerce, said the private sect
Gov't facing long haul to be 'business friendly'
THE government still has “a great deal to do” to be viewed as business-friendly, with few businesses seeing any improvement in their interaction with public sector bureaucracy.Michael Maura, pictured, the Bahamas Chamber of Commerce and Employers Con
DPM: We must address 'upside down' economy
THE deputy prime minister yesterday said “structural adjustments” and “a cultural shift” are needed to address The Bahamas’ “upside down” economy.K Peter Turnquest told the National Conclave of Chambers of Commerce that the government remained resolu
VAT 'pales' against $350m health leak
The VAT hike’s impact on healthcare is “pennies” compared to the $350m that Bahamians spend in South Florida and other markets, a Cabinet Minister argued yesterday.Dr Duane Sands, pictured, minister of health, told Tribune Business that this - not th
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
