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Halkitis: We were right to drop disaster insurance policy

STATE Minister for Finance Michael Halkitis yesterday defended the government’s decision to drop its regional insurance policy for disasters for a sovereign disaster relief fund.

Govt hopeful of avoiding downgrade after meeting

THE government is “hopeful” the country’s credit rating will not be downgraded after having a series of “constructive” meetings with Wall Street rating agency Moody’s last week, Minister of State for Finance Michael Halkitis said yesterday.

RICHARD COULSON: Halkitis must be heroic in facing ratings agencies' questions

THIS WEEK and next, the warriors of the dreaded international rating agencies will ride into town to pick at the bones of our financial structure. Moody’s and Standard & Poor’s (S&P), each with its own rigid criteria, will send their best and brightest analysts whose lances will be lap-top computers loaded with data from our own Department of Statistics and Central Bank, all sent to the World Bank and International Monetary Fund for the world to see.

Hotel room revenue down 7%, reports bank

IN its monthly report released yesterday, the Central Bank revealed that hotel room revenue declined by an estimated seven per cent during the first four months of this year compared to the same period last year.

Bid to hold talks over downgrade: Govt confident over prospects

MICHAEL Halkitis, State Minister for Finance, said yesterday the government will meet with representatives from ratings agencies Standard & Poor’s and Moody’s starting next week in order to “convince” the firms not to downgrade the country’s credit rating.

Customs regulations changes to clamp down on gun smuggling into the Bahamas

NEW Customs regulations could clamp down on illegal smuggling of items like guns, State Minister for Finance Michael Halkitis said on Friday.

PLP ratifies Fitzgerald and Halkits for 2017 race

THE PLP has ratified its second pair of 2017 general election candidates – Education Minister Jerome Fitzgerald and State Minister of Finance Michael Halkitis – as senior party officials declaring that the “new generation” leaders’ mantra was alive and well.

Halkitis named chairman of governors at IDB

MINISTER of State for Finance Michael Halkitis has been elected chairman of the Board of Governors of the Inter-American Development Bank (IDB) and the Inter-American Investment Corporation (IIC).

Halkitis denies missing targets

STATE Minister for Finance Michael Halkitis yesterday refuted media reports that the government has already blown past its forecasted deficit targets for 2015-2016.

$33m to be borrowed to help monitor govt finances

THE Christie administration yesterday brought a resolution to the House of Assembly to borrow $33m from the Inter-American Development Bank to improve the management of the country’s finances.

First year of VAT to bring in $250m over estimate

THE government has collected approximately $510m in value added tax revenue from January to November 2015, according to Minister of State for Finance Michael Halkitis.

Grand Bahama forges investment and trade links with Hubei, China

INCREASED opportunities for investment and trade co-operation have been formed between Chinese companies and Grand Bahama entrepreneurs at the first Investment and Trade mission: Hubei, China to The Bahamas at the Grand Lucayan Resort.

Halkitis rejects Sarkis attacks

STATE Minister for Finance Michael Halkitis yesterday defended the Baha Mar receivership from attacks against the resort’s developer Sarkis Izmirlian, saying the process is a way for “the speedy resumption and completion of the resort.”

Halkitis rejects FNM criticisms of budget

STATE Finance Minister Michael Halkitis yesterday defended the government’s fiscal track record saying the opposition’s criticisms of the 2015/2016 budget projections are “mischievous” for the sake of political gain.

$28m collected in the first month of VAT

THE government has collected nearly $28m in value added tax since the January 1 implementation date, according to Minister of State for Finance Michael Halkitis.

YOUNG MAN'S VIEW: Cabinet Report – Top marks or bottom of the class?

Adrian Gibson continues his analysis of the performance of members of the Cabinet - complete with their grades - below and on the following two pages.

$50m collected in property tax

THE Christie administration collected more than $50m in real property tax in 2014, as officials aggressively pursue millions of dollars in tax arrears, State Finance Minister Michael Halkitis said yesterday.

Halkitis accuses FNM leader of pandering over his stance on VAT

STATE Minister for Finance Michael Halkitis yesterday accused FNM Leader Dr Hubert Minnis of “pandering” to the emotions of the Bahamian people by making “outlandish promises” he cannot keep “just to be re-elected”.

No VAT at Super Value - and govt to investigate

THE Value Added Tax Compliance Unit will today investigate why Super Value locations were not charging the new tax that came into effect yesterday, Minister of State for Finance Michael Halkitis said.

No plan for fiscal responsibility legislation ahead of VAT

DESPITE threats that private sector representatives might withdraw their support for value added tax (VAT) if a Fiscal Responsibility Act is not implemented, State Minister for Finance Michael Halkitis said yesterday that the government has no plan to introduce such legislation as part of its fiscal reform initiatives and VAT rollout plans.

VAT Bill to be tabled today

THE final Value Added Tax Bill will be presented to Parliament today with a new list of exemptions, State Minister for Finance Michael Halkitis said yesterday.

Rise in national minimum wage not under consideration

AN increase in the national minimum wage is not up for consideration at the time, Finance Minister Michael Halkitis said yesterday.

Halkitis says VAT bill to be tabled by end of month

THE final Value Added Tax (VAT) Bill will be presented to Parliament by the end of the month, according to Minister of State for Finance Michael Halkitis.

Halkitis hits out at critics of Budget

MICHAEL Halkitis, State Finance Minister, yesterday defended the Christie administration’s 2014/2015 fiscal plans saying detractors have stretched its interpretation to cause “unwarranted fear in the minds of the public”.

Halkitis: No way new House of Assembly will be built this term

MEMBERS of Parliament have not put forward a motion to have their salaries raised, State Minister for Finance Michael Halkitis emphasised yesterday as he also added that in his view, “there’s no way” a new House of Assembly building will be constructed this term.

Halkitis predicts more requests for extra funds

AS THE government moves to prepare finances for the 2014-15 budget State Finance Minister Michael Halkitis is forecasting requests for more money from several key ministries.

Health insurance by January 2016

IMPLEMENTATION of the government’s National Health Insurance scheme has been set for January 2016, Finance Minister Michael Halkitis said yesterday.

Halkitis puts VAT back up in the air

STATE Minister for Finance Michael Halkitis yesterday confirmed that the government will now consider revisiting all proposals, including Value Added Tax, in the wake of the proposed regularisation and taxation of web shops.

$550m owed in property tax

AMID calls for the Christie administration to crack down on outstanding taxes, more than $550 million in Real Property Tax (RPT) over the last 30 years has gone uncollected, The Tribune can reveal.

Aim for 'transparency' over seized fish stocks

WHILE questions continue to linger over confiscated fishery goods, Minister of State for Finance Michael Halkitis says the government is working to improve its level of transparency in their processes of collection and distribution.

Family Islanders feeling left in the dark over VAT

QUESTIONS are being raised over the adequacy of the government’s Value Added Tax (VAT) awareness program after several Family Island administrators yesterday indicated that public forums have not taken place on their island and that the awareness initiatives that have taken place in some districts have been inadequate in some way.

Anger over 'blank cheque' for NIB purchase of building

A RESOLUTION for the National Insurance Board to purchase the Rodney A. Bain Building was met with considerable opposition by FNM MPs in the House of Assembly yesterday.

New attempt at mortgage relief

THE government is reviewing a proposal from the Clearing Banks Association on how the mortgage relief programme can be revived yet again, according to State Minister of Finance Michael Halkitis.

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