Web shops facing taxation 'wipe out'
Sebas Bastian yesterday warned web shops face a “wipe out” from tax increases of up to 355 percent, as the sector accused the government of deliberately seeking to “cripple” it.The Island Luck chief confirmed to Tribune Business that he, and other op
BICA chief's concern on 30-day VAT 'hubris'
The Bahamas Institute of Chartered Accountants (BICA) president yesterday warned it was “hubris” to believe the private sector can implement the new VAT rate and exemptions within 30 days.Gowon Bowe told Tribune Business that the proposed 60 per cent
Auto dealers: Budget reforms are 'bittersweet'
Bahamian new auto dealers described yesterday’s Budget as “bittersweet”, despite it delivering the bonded warehouse and “roadside vendor” crackdown they have been seeking.Fred Albury, the Bahamas Motor Dealers Association’s (BMDA) president, told Tri
'Insane' 40% growth in govt's wage bill
The 40 percent growth in the government’s wage bill over the past seven fiscal years to 2018-2019 was yesterday branded “insane” and “criminal” by private sector leaders.KP Turnquest, pictured, Deputy Prime Minister, said the $226m increase in civil
Chamber blindsided by 12% VAT proposal
The Chamber of Commerce plans to discuss the 2018-2019 budget with the government today after being blindsided by its proposed 60 percent VAT rate increase.Edison Sumner, the Chamber’s chief executive, told Tribune Business that it had been taken by
Gov't hailed for shoe, clothing retail waiver
The Government’s proposed tax relief for clothing and shoe retailers was yesterday hailed for helping to preserve Bahamian businesses and jobs.KP Turnquest, pictured, deputy prime minister, said the government had made provision in the 2018-2019 budg
Just 20% of BOB 'bad 'loans' are recoverable
The Government’s capital spending budget took an $80m hit after it was determined that just 20 percent of Bank of the Bahamas’ toxic loans were recoverable.KP Turnquest, unveiling the 2018-2019 budget in the House of Assembly yesterday, said the gove
Cooper: 'Budget of pain and no gain'
The Official Opposition yesterday slammed the Minnis administration for its “budget of pain and no gain”, arguing that the current 7.5 percent Value-Added Tax (VAT) rate would have been “adequate for years to come”.Chester Cooper, the Exuma and Ragge
'Car duty reduction shows committment'
A Bahamian electric car dealer said yesterday the Minnis administration’s plan to reduce the import duty for electric vehicles from 25 percent to ten percent demonstrates a “serious commitment” to improving the environment, adding that it could incen
Business warns Gov't off Budget 'bail out'
Private sector leaders yesterday warned the government against taking “the easy road” of a VAT rate increase and seeking a budget “bail out” from consumers and businesses.
Fishermen told to 'take charge'
A Cabinet Minister has urged Bahamian fishermen to “take charge” of their industry following a heated meeting that produced little agreement on the sector’s way forward.Renward Wells, pictured, minister of agriculture and marine resources, lamented t
Web shops blast 'disparaging' call for tax increases
The web shop industry yesterday mounted an astonishing personal attack on the Organisation for Responsible Governance’s (ORG) principal for suggesting the sector face increased taxation.The Bahamas Gaming Operators Association (BGOA), in a written st
URCA sides with Aliv on BTC billing dispute
Aliv has hailed industry regulators for taking its side in a billing dispute with the Bahamas Telecommunications Company (BTC) that could have threatened customer connectivity.Damian Blackburn, pictured, the mobile provider’s top executive, told Trib
Business Licence fee needs 'real hard look'
The Chamber of Commerce’s chairman yesterday called for “a real hard look” at a Business Licence fee formula many in the private sector blame for plunging their businesses into loss.Michael Maura told Tribune Business this was one of many issues the
Sherwin Williams show draws strong turnout
More than 50 of its top customers attended Sherwin Williams’ annual Pro Show this month to gain deeper insight into its latest products and services.Local contractors and service providers were treated to practical demonstrations at the retailer’s Pr
