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Baha Mar and VAT ‘sucked’ $700-$900m from the economy

Baha Mar and Value-Added Tax (VAT) have collectively “sucked” between $700-$900 million out of the Bahamian economy since 2015, a local businessman estimated yesterday, amid expectations that some funds may now be recovered.

Businesses are warned: Stop ‘lying’ on turnover

The Government’s tax collection chief yesterday voiced scepticism that fewer than 20 percent of businesses meet the VAT registration threshold, and demanded the private sector “be truthful”.

Renewable firm offers Bahamians 20% equity option

Baha Mar's renewable energy partner is giving Bahamian investors buying into its $3 million promissory note offering an option to convert their investment into a

Govt mulling $1m investment floor for permanent residency

The government is eyeing a $1m minimum for investors to qualify for economic permanent residency by making non-real estate investments in The Bahamas, a Cabinet minister revealed last night.

Parts of BPL network ‘not working optimally’

Bahamas Power & Light’s (BPL) chairman yesterday disclosed that parts of its grid “are not working optimally” due to the utility’s delayed $535m bond refinancing.

BPL delinquencies may force further govt help

The government may be forced into giving Bahamas Power & Light (BPL) a further bail-out if too few of its 16,000 delinquent customers pay-off their arrears, a Cabinet minister warned yesterday.

Delinquent Mortgages: '20% can pay but don't'

By NEIL HARTNELL

Minister urges safety on the roads

MINISTER of Transport and Aviation Glenys Hanna-Martin said at the launch of Road Safety Month that the month’s activities are designed to bring a focus to the “terrible public health issue” of people dying in road-traffic accidents or suffering severe, life-altering injuries, such as paraplegia, brain injuries and permanent maiming.

Lawyer E Dawson Roberts dies age 85

PROMINENT Bahamian lawyer E Dawson Roberts died at 11am yesterday at his Eastern Road home. He was 85. Mr Roberts was a direct descendant of Loyalist Wyannie Malone, who founded Hope Town, Abaco, in 1783 after moving from Charleston, South Carolina.

Tourism targets 23.5% reduction in 'leakage'

PROMOTING the development of small and medium-sized enterprises could help the Bahamas reduce the “leakage” of 85 cents from every tourist dollar earned, a hotel executive said yesterday.Carlton Russell, the Bahamas Hotel and Tourism Association’s (B

Christie promises VAT amendments and debate soon

PRIME Minister Perry Christie said yesterday that he hoped to see the final Value Added Tax (VAT) legislation debated and passed before Parliament’s standard summer recess, acknowledging that there would be “an amendment or two” to the Bill tabled a few weeks ago.

Competition absence aids bad businesses

Competition absence aids bad businesses By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A LARGE number of Bahamian companies enjoy repeat business simply due to lack of competition, a Bahamas Development Bank (BDB) executive sa

Competition absence aids bad businesses

Competition absence aids bad businesses By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A LARGE number of Bahamian companies enjoy repeat business simply due to lack of competition, a Bahamas Development Bank (BDB) executive sa

Bank: 'No truth' to lay-off, closure talk

A Bahamas-based financial services provider yesterday said it plans to hire extra staff within the next few months as its restructuring nears an end. Marco Netzer, Private Investment Bank’s vice chairman, dismissed financial services industry talk t

Ayton helps Wildcats secure 88-82 win over Crimson Tide

THE Arizona Wildcats were locked into another close game down the stretch when they turned to their freshman phenom to deliver in the clutch. DeAndre Ayton made a pair of jumpers on consecutive possessions to help the Wildcats pull away for an 88-82 win over the Alabama Crimson Tide at the McKale Center in Tuscon, Arizona, on Saturday.

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