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QC: VAT rejected if no ‘value for money’

The Bahamian people will not accept Value-Added Tax (VAT) unless the Government convinces them they will receive “value for money” in return, a top QC warned yesterday.

Gaming Board lacks ‘oversight structure’ for numbers houses

* Minister: Changes to make regulator ‘more relevant’ * Gaming Board will ‘look very different’ in five years * ‘92,000 didn’t vote for us to maintain status quo’

RECENT downsizings are intended to make the Gaming Board “more relevant” and help it cope with the “seismic changes” created by web shops, a Cabinet minister said yesterday. Dionisio D’Aguilar, who has ministerial responsibility for gaming, told Tribune Business that the industry regulator will “look extremely different from the Gaming Board of today within five years”.

Can Bahamas brook new Atlantis owner

Can Bahamas brook new Atlantis owner It will return. Make no mistake about it. With $2.5 billion worth of debt past due and in default, Kerzner International's seven lenders will not let the situation lie. It is a question of when, rather than if, the ow

S&P: Gov’ts fiscal, economic reforms ‘will take time’ to work

* 1.5% average growth forecast lower than IMF’s * Grand Lucayan closure takes out 7% of rooms * Debt to rise through 2020 to 52% of GDP

THE Government’s fiscal and economic reforms will take time to “pay dividends”, Standard & Poor’s (S&P) warned yesterday, as it took a more ‘bearish’ view of the Bahamas’ growth prospects. The rating agency, in its latest Bahamas country assessment, expressed confidence that the Minnis administration’s fiscal reforms will “arrest the deterioration” in the Government’s deficit and the national debt.

VAT readiness: PM warned that 'Clock ticking'

Prime Minister Perry Christie has been warned that “the clock is ticking” on the private sector’s Value-Added Tax (VAT) readiness, a Tax Coalition co-chair yesterday calling for the revised legislation and regulations to be published “as soon as possible”.

$6.6bn debt ‘well beyond’ the need for stabilisation

The Bahamas is “well beyond” the point where it merely needs to “stabilise” its $6.6 billion national debt, a former Chamber chairman said yesterday, as he warned that the economy was showing “no desire for growth”.

CIBC:‘No plans’ for further terminations

CIBC’s top Caribbean executive yesterday said the bank had “no plans” for any further major outsourcing of jobs from the Bahamas, emphasising it was targeting the retail and private wealth management segments for growth.