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Gov’t plans to narrow VAT payment window

The Government yesterday unveiled plans to shrink the Value-Added Tax (VAT) payment window by seven days, and other revenue enforcement measures, amid the numerous tariff rate cuts consistent with a pre-election Budget.

SKY'S THE LIMIT FOR $270K ROUTE INVESTMENT

By NEIL HARTNELL Tribune Business Editor Sky Bahamas expects to start seeing a return on its $270,000 investment in building its Marsh Harbour-West Palm Beach route in three months' time, telling Tribune Business it cost Bahamian-owned airlines twice as

Florida court blocks $7.59m Bahamas ruling

A contractor’s bid to enforce a $7.59 million Bahamas Supreme Court judgment against a major global hotel chain has been blocked by a Florida appeals court, which ruled the latter was not involved in a $1 billion Bahamian joint venture.

Gov't pushes deficit elimination forecast back three years

The Government has pushed back its original projections for eliminating the fiscal deficit by three full years, and is now pinning its hopes on a $449 million, four-year 'swing' into surplus.

$500M REVENUE RISE NO FISCAL GAP BRIDGE

By NEIL HARTNELL Tribune Business Editor The Government's annual fiscal deficit averaged more than $170 million during the 2002-2008 'economic boom' years despite an almost $500 million rise in revenues over that period, showing that reining in out-of-co

Tax crackdown: Govt hits 6,000 businesses, 5,000 property owners

The Government last night unveiled its promised crackdown on tax defaulters, promising to first pursue the largest, wealthiest delinquents - some 6,000 businesses and 5,000 high-end property owners.

‘No cause for celebration’ over S&P breathing room

* Bahamas ‘still has to climb out of hole’ * But Chamber chief ‘fully expects’ 2018 upgrade * Many Bahamians don’t realise reform ‘gravity’

PRIVATE sector executives yesterday said the Bahamas has “no cause for celebration yet” after Standard & Poor’s (S&P) elected not to further downgrade its sovereign creditworthiness.

'ENTHUSIASTIC' FAMILY ISLAND IPO RESPONSE

The Arawak Port Development Company (APD) said the response from potential Family Island investors to its $10 million initial public offering (IPO) had been enthusiastic, after its principals undertake a nationwide roadshow to tout the offering's prospect

'ENTHUSIASTIC' FAMILY ISLAND IPO RESPONSE

The Arawak Port Development Company (APD) said the response from potential Family Island investors to its $10 million initial public offering (IPO) had been enthusiastic, after its principals undertake a nationwide roadshow to tout the offering's prospect

'ENTHUSIASTIC' FAMILY ISLAND IPO RESPONSE

The Arawak Port Development Company (APD) said the response from potential Family Island investors to its $10 million initial public offering (IPO) had been enthusiastic, after its principals undertake a nationwide roadshow to tout the offering's prospect

Tourism ‘softness’ exposed with 7% room revenue fall

Tourism “softness” resulted in a 7 per cent year-over-year decline in peak winter room revenues for Nassau’s major hotels, with both occupancies and pricing coming under pressure.

WATER CORP DISCONNECTS 5,400 IN '11

By NEIL HARTNELL Tribune Business Editor A net 5,435 customers were disconnected by the Water & Sewerage Corporation for non-payment in 2011, data supplied to Tribune Business reveals, even though reconnections reached their highest level for five years.

AML chief: ‘Size of pie yet to be seen’

* Uncertainties over Xmas spending * Hopes December ‘uptick’ will persist * All retailers see October/November fall-off

BISX-listed AML Foods has warned that “the size of the pie” remains unknown when it comes to Bahamian consumer spending this Christmas. Gavin Watchorn, the group’s president and chief executive, told Tribune Business that while it was “very confident” of gaining its due share, the extent of holiday expenditure was difficult to predict given continued economic uncertainty and fragile confidence.

DPM: Bahamas must ‘prove’ itself to S&P

* ‘Not at all’ upset nation still ‘junk’ * Blames former Govt’s failure to deliver * Nation has 12-24 months to execute

The Government must “prove” it can deliver on its fiscal and economic turnaround strategy, the Deputy Prime Minister admitted yesterday, after Standard & Poor’s (S&P) kept the Bahamas at ‘junk’ status. K P Turnquest told Tribune Business he was “not at all” disappointed at the outcome of S&P’s annual review of the Bahamas’ sovereign creditworthiness, despite having previously expressed optimism that the Government could make the case to be upgraded to ‘investment grade’ status.