‘Better VAT than risking disaster’
AS the nation shudders from the shock of the 12 percent value added tax rate, Prime Minister Dr Hubert Minnis reportedly told a Cabinet minister it is “better to lose an election than to lose a country.”
FNM MPs kept in dark on increase
THE government’s proposed value added tax increase was not only a shock to the nation but completely blindsided several Free National Movement members of Parliament who told The Tribune yesterday it appeared the decision was kept within the confines of Cabinet.
12% - now the backlash
BAHAMAS Institute of Chartered Accountants President Gowon Bowe believes the government’s plan to increase value added tax will create further distancing between the “haves and have-nots” and possibly create the conditions for class unrest, he told The Tribune.
Fee increases on government services
SEVERAL amendments tabled in the House of Assembly Wednesday proposed fee increases on government services, including character certificates, finger printing and vehicle chassis checks.
Turnquest: Only fair for web shops to pay 'their fair share'
FINANCE Minister K Peter Turnquest defended the government’s decision to increase taxes on gaming house operators on Thursday, saying it is only fair web shops pay “their fair share” for its impact on vulnerable communities.
Turnquest defends VAT hike
DEPUTY Prime Minister and Minister of Finance Peter Turnquest defended the government’s Value Added Tax (VAT) hike plan during a press conference on Thursday.
First steps to be taken for catastrophic care insurance
THE Minnis administration will introduce the first phase of its Catastrophic Care Insurance Plan in the upcoming fiscal year, Deputy Prime Minister and Minister of Finance Peter Turnquest announced yesterday. It’s not clear what provisions have been
Ouch! Peter turns the screw on VAT
Finance Minister K. Peter Turnquest delivered a stunning blow to consumers and businesses yesterday with a shock increase in the rate of Value Added Tax to 12 percent.
Giveaways offered in Budget
DEPUTY Prime Minister and Minister of Finance Peter Turnquest announced a number of tax reductions and eliminations during his budget communication yesterday.
Property tax and immigration fees up
THE Minnis administration’s VAT grabbed the spotlight yesterday but Deputy Prime Minister and Minister of Finance Peter Turnquest also announced select increases to real property taxes and immigration fees.Real property tax on foreign-owned vacant la
Charities to benefit from budget move
ONE of the tax relief measures announced by Deputy Prime Minister K Peter Turnquest yesterday will have a direct impact on charities. Mr Turnquest promised that the government will “provide tax relief to individuals and businesses” as he announced a
From burden to VAT hike - the FNM's changing view on tax
THE Free National Movement insisted value added tax would be a burden on Bahamians before announcing their plan yesterday to increase the tax rate by more than 50 percent in the next fiscal year.On August 20, 2014, Prime Minister Dr Hubert Minnis and
Web shop patrons to pay stamp tax
WEB shop patrons will have to pay five percent stamp tax on in-store deposits to accounts and any digital online sales, effective July 1, 2018.Although not implicitly stated in yesterday’s budget presentation, it is presumed this tax will be applied
Bus route identified to test out new system
THE government has identified a route for its pilot project on a new busing system, according to Transport Minister Frankie Campbell, who insisted the program moving forward.Mr Campbell told media outside Cabinet the project will not be a “mock bus r
Move to digital seeks to make govt more efficient
THE government will be undergoing a “digital transformation” to strengthen the country’s competitiveness, Deputy Prime Minister K Peter Turnquest said yesterday.Known as the “Digital Bahamas Initiative”, the project will be financed in part by a $500
