Crawfish export limit faces 29% reduction
THE government will reduce the annual crawfish export limit from seven million to five million pounds, a Cabinet Minister told Parliament yesterday.Renward Wells, minister of agriculture and marine resources Minister, said: “In consultation with prim
Don't 'continually' hike VAT for fiscal escape
The government “cannot continually” use VAT hikes to solve its fiscal woes, a top accountant is warning, describing its rising debt servicing and unfunded pension costs as “worrisome”.
'Unfair' to tax web shops into losses
The government should not force the web shop industry out of business through the imposition of onerous taxation, a top accountant is arguing.
'Sanctions threat' from web shop taxation hike
The prime minister has been warned by the Caribbean’s former top financial regulator that The Bahamas faces the “considerable danger” of sanctions from the web shop gaming tax hikes.Calvin Wilson, the immediate past executive director for the Caribbe
Baha Mar contractor: No rooms for Sarkis
Baha Mar’s main contractor refused to turn over completed rooms to the original developer in early 2015 as it sought leverage to claim an extra $119m in their growing payment dispute.A senior China Construction America (CCA) official, in a February 1
Ginn purchaser plans initial 120-room hotel
A Canadian-based developer aims to build a new 120-room hotel, add 75 marina slips and upgrade the airport and golf course within 24 months once it closes its acquisition of the former Ginn sur mer.Skyline Investments, a Toronto-based real estate inv
Tourism director-general gains top regional award
The Bahamas’ tourism director-general has received the Caribbean Tourism Industry’s Allied Award for her work on the industry’s sustainable development. Joy Jibrilu was presented with the honour during the Caribbean Tourism Industry Awards Dinner and
Manufacturers slam 'inaccuracy' on sector
Manufacturers have challenged recent statements by The Bahamas’ chief World Trade Organisation’s negotiator, arguing that “worrisome” inaccuracies undermine the sector’s significance.The Bahamas Light Industries Development Council (BLIDC), respondin
'Gate should never have been open' to web shops
A Bahamian businessman has urged the government to present a “detailed audit” of the web shop gaming sector, and is backing the introduction of a National Lottery.Peter Roker, operator of the Bargain City Plaza on Carmichael Road, told Tribune Busine
Web shops urged to withhold due taxes
Web shops were yesterday urged to withhold all revenues currently due to the government, amid claims planned tax hikes were intended to wipe them out in favour of a national lottery.Philip Galanis, the former MP and senator, told Tribune Business he
Tax change threat to 'resilient' $928m FDI inflow's repeat
The Bahamas needs a repeat of last year’s “resilient” $928m foreign direct investment (FDI) inflow more than ever, but real estate’s new VAT treatment represents a potential obstacle.While a United Nations (UN) agency said 2017’s FDI flow dropped jus
Ex-minister 'totally opposed' to web shop taxation hike
The ex-Cabinet minister who oversaw the web shop industry’s legalisation yesterday queried why it was being hit with “destructive” taxation despite meeting all its obligations to date.Obie Wilchcombe, the former minister of tourism, told Tribune Busi
Aircraft registry 'not serious' unless 10% Customs levy ends
The Bahamas’ aircraft registry ambitions “would not have been taken seriously” unless the ten percent Customs duty was eliminated, an attorney revealed yesterday.Llewellyn Boyer-Cartwright, a leading advocate for the creation of an enhanced registry,
Gov’t shows ‘inflexibility’ on 12% VAT, timelines
The Government has largely shown “little flexibility” to-date over the planned 12 percent VAT and timeline for its implementation, the Chamber of Commerce’s chief executive said yesterday.
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.
