October 4, 2022
FINANCIAL Secretary Simon Wilson.
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VAT filing cut for $5m companies
The Ministry of Finance's top official yesterday voiced optimism it will "not be a big problem" for Bahamian companies with annual turnovers exceeding $5m to file and pay their VAT returns within 14 days.
Crackdown on tax cheats 'most co-ordinated' ever
The Government is launching its "most co-ordinated effort" ever to crackdown on tax cheats with its success in collecting hundreds of millions in outstanding revenue critical to avoiding "increased tax rates".
Wilson defends responsibility allowance hike
FINANCIAL Secretary Simon Wilson defended the 58 per cent responsibility allowance increase senior civil servants have received, saying the real scandal is that the Police Commissioner and Defence Force Commodore only make $70,000 a year.
‘Hundreds of millions of tax dollars’ owed to govt
THE government’s top finance official says “hundreds of millions of dollars” is owed in VAT and other tax arrears — an estimate that does not even include the $800m owed in real property taxes.
Gov’t revenues beat early goal by $50.6m
The Government’s top finance official yesterday said “close to $50m” in real property tax arrears has been collected during the 2022-2023 fiscal year’s first seven months as it seeks to crack down on tax and bill duckers.
'Very encouraging’ first quarter fiscal performance
FINANCIAL Secretary Simon Wilson yesterday described the nation’s fiscal performance for the first quarter as “very encouraging”, saying while officials see no reason why this positive trajectory can’t continue, they must also remain cautious due to the possibility of a recession, among other factors.
Wilson has faith that measures in place will relieve inflation burden
AFTER a report showing an increase in local inflation, Financial Secretary Simon Wilson said he has faith that the current measures in place will relieve the burden.
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