Chamber urges 'safeguards' for Gov'ts tax-free zone plan
THE Chamber of Commerce’s chief executive yesterday urged the Government to “put in safeguards” to prevent abuse of its promised Over-the-Hill ‘tax free zones’. Edison Sumner told Tribune Business that unless the necessary controls were implemented t
Contractors 'not at odds' with Minister
THE Bahamian Contractors Association (BCA) yesterday said it is “not at war” with the Minister of Works, and will resubmit its nominees for the Contractors Board before the the week’s end. Leonard Sands, the BCA president, told the Association’s mont
Bahamas promoted at key travel shows
THE Ministry of Tourism took advantage of the cold US winter to promote the Bahamas at two major east coast travel shows.The Travel and Adventure Show, in Washington D.C., and the New York Times Travel Show were used to showcase this nation’s attract
Bank exit, money flows to boost local ownership
A BAHAMIAN businessman says the weekly multi-million dollar money flow through the Family Islands, coupled with commercial bank exits, has created an opportunity for greater local ownership in the financial services sector.Barry Malcolm, chief execut
Labour minister leads wage equality group
THE Minister of Labour led a Bahamian delegation to Panama for the recent United Nations’ Regional Conference on Wage Equality.Senator Dion Foulkes was accompanied by government, trade union, private and public sector representatives to the event, wh
Bridge Authority's $9.4m bond repayment deficit
The Paradise Island Bridge Authority requires $3.5 million in ‘emergency’ annual funding over a five-year period to cover a $9.4 million “deficiency” in its bond repayment fund.The Authority’s 2016 financial statements, tabled recently in the House o
Driver protection fund hit by 40% 'uninsured' ratio
INSURERS yesterday warned that the Bahamas’ 40 per cent “uninsured driver ratio” is a significant obstacle to the creation of a ‘rogue motorist’ protection fund.While agreeing that the havoc caused by uninsured and ‘unauthorised’ motorists is “unacce
'Get fiscal house in line' for exchange control freeing-up
THE Government must “rapidly bring its fiscal house into line” to facilitate greater exchange control liberalisation, a well-known accountant warned yesterday.Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) president, told Tribune B
Enterprises Act will attract new business 'in next 12-18 months'
A TOP accountant yesterday said client feedback suggested the Commercial Enterprises Act and other reforms will attract new businesses to the Bahamas “in the next 12-18 months”.Prince Rahming, PricewaterhouseCoopers’ (PwC) Bahamas territory manager,
Governor urges 'new ways' for unlocking $1.8bn liquidity pile
THE Central Bank’s governor has called for the development of “new private sector mechanisms” to put the banking system’s $1.8 billion surplus liquidity to more productive use.John Rolle, addressing the regulator’s Monday exchange control seminar, sa
Chamber to take up VAT pricing concern
THE Chamber of Commerce’s (BCCEC) chief executive said yesterday said the organisation plans to take-up concerns over Value-Added Tax (VAT) inclusive versus exclusive pricing.Edison Sumner told Tribune Business that while the Chamber had not received
SAFE & SECURE: Going beyond the data on interpreting crime
WHAT better way to resume our discussion on crime and its prevention than to look at its reporting, and the recent release of police statistics for 2017 in the Bahamas. If you have not seen the report then you are doing yourself and your company a di
DPM moving 'quickly' on creation of VAT Tribunal
THE Government yesterday said it was hoping to fully populate the Value-Added Tax (VAT) Tribunal “quickly” in a bid to resolve long-standing disputes and uncertainties.K Peter Turnquest, Deputy Prime Minister and minister of finance, confirmed the mo
Appeal president renews driver protection fund plea
The Court of Appeal’s president yesterday renewed her call for a fund to compensate victims of uninsured and ‘hit and run’ drivers, after rejecting a $654,000 claim against Bahamas First.Dame Anita Allen, in overturning a previous Supreme Court verdi
'Insatiable desire' for benefits large fiscal reform bar
THE Bahamian people’s “insatiable desire” for government benefits is a bigger obstacle to reforming the public finances than economic policy, the Deputy Prime Minister is arguing.K P Turnquest, in an interview with Tribune Business, suggested that ch
