Bran slams 'damn pathetic' four-year solar system wait
The DNA’s former leader yesterday said it was “damn pathetic and frustrating’” that a state-of-the art solar system at his wife’s school continues to remain unused nearly four years after installation.Branville McCartney hit out at the Ministry of Wo
Gov't pledges support for $180m Pharmachem move
PHARMACHEM Technologies has retained two foreign engineering firms to oversee construction of its new $180 million facility in Freeport.Kevin Seymour, the company’s chief financial officer, said Integrated Project Services (IPS) and KPC International
The devastating impact of proposed IBC amendments
AS a manager, and sometimes a director, of more than 400 International Business Companies (IBCs) over the last 40 years, the need for the protections granted by the Constitution of the Bahamas were recognised by legal advisors around the world. This
Arawak Port operator eyes environmental certification
THE Nassau Container Port’s operator is seeking to obtain International Standards Organisation (ISO) environmental certification, as it works to determine and mitigate any impacts from its activities.Arawak Port Development Company (APD) executives s
Corporate taxation won’t ‘put two fingers up to EU’
The Bahamas does not need corporate taxation to escape its latest ‘blacklisting’, a KPMG tax expert yesterday saying: “That won’t put two fingers up to the EU.”
Baha Mar's lender needed 'incentivising' to finance completion
BAHA Mar’s financier had to be “incentivised” through government tax breaks to compensate Bahamian creditors and finance the $4.2 billion project’s completion, it has been revealed.The revised Baha Mar construction contract, worth $700 million and ta
Insurance chair urges: We must shed 'tax haven' label
THE Bahamas Insurance Association’s (BIA) chairman yesterday urged the country not to lose sight of ‘the bigger picture’ in using tax reform to shed its ‘tax haven’ label.Emmanuel Komolafe told Tribune Business that while corporate taxation may not b
Expert: Corporate tax 'is a five-year project'
A KPMG tax expert yesterday warned that a Bahamian corporate tax is “a five-year project”, adding: “You can’t rush it in nine months.”John Riva, head of tax for the accounting firm’s ‘Islands Group’, told local financial services executives that the
Bahamas urged totalk with EU over IBC 'grandfather'
THE Bahamas was yesterday urged to negotiate a ‘grandfathering’ clause with the European Union (EU) over the 20-year tax exemptions for existing IBCs.Paul Riva, KPMG’s head of tax for its ‘islands group’, including the Bahamas, suggested that the EU
Marinas enjoy arrivals increases of up to 60%
Members of the Association of Bahamas Marinas (ABM) have reported 2018 first quarter arrivals increases of up to 60 per cent, leading to predictions of an “excellent” full year.“The prospects for boating to the Bahamas look excellent for 2018,” said
Island Luck chief: IPO 'very soon'
ISLAND Luck’s Sebas Bastian yesterday said an initial public offering (IPO) of shares in the web shop operator remains in progress, with a formal announcement likely imminent.Mr Bastian, when asked if his long-promised IPO will go ahead, replied: “It
IDB: Bahamas ‘4x costlier’ over company registration
Registering a company in the Bahamas is “four times’ costlier” than in developed countries, with less than 3 per cent of government procedures able to be completed online.
Galleria blasts ‘shocking’ verdict on copyright law
ATTORNEYS for Galleria Cinemas yesterday said the Court of Appeal had “shockingly misunderstood” copyright law in a ruling that revives a long-running claim against the movie operator.
IMF slightly premature on ‘turned the corner’ verdict
PRIVATE sector leaders yesterday said the IMF’s assessment that the Bahamian economy has “turned the corner” was slightly premature, one saying: “I’m definitely not celebrating yet.”
US urges ‘full safeguards’ on gaming sector
THE US government has identified “gaming” as a popular money laundering mechanism in the Bahamas, urging this nation to “emphasise enforcement” in its fight against financial crime.
