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Bahamas ‘only now seeing the real VAT effect’

AML Foods’ chief executive yesterday said the Bahamas was “only now seeing the real impact of Value-Added Tax (VAT)”, suggesting that its effects would “bottom out” doing the weakest point in the economic cycle.

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FNM fears toll on resort staff awaiting job cut news

BAHA Mar’s plans to potentially reduce its workforce by over 90 per cent if it is unable to resolve its dispute with its Chinese partners will take a toll on the “mental and physical health” of its employees, FNM Chairman Michael Pintard said yesterday. He said no effort must be spared on the government’s behalf to prevent the staff cuts.

S&P warned: Don’t ‘rush to judgment’ on credit downgrade

A well-known businessman yesterday urged Standard & Poor’s (S&P) not to “rush to judgment” and downgrade the Bahamas as a result of the Baha Mar impasse, adding that the only thing this country is losing is “time”.

Lone tennis player to represent Bahamas at Pan Am Games

PHILIP Major Jr has his bags packed and is ready to leave town today to compete in the 17th Pan American Games.

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Iesha comes from behind for victory

Iesha Shepherd, unfazed when the pressure was applied, rode the momentum from her double dose of victory at the Bahamas Lawn Tennis Federation’s Junior National Tennis Tournament and the support of the crowd at the National Tennis Center to win her first round main draw match at the ITF Junkanoo Bowl Junior Tennis Tournament.

Gov’t to phase-out VAT bi-annual filing

The Government is moving to eliminate the bi-annual filing of Value-Added Tax (VAT) returns by year-end, in a bid to boost its cash flow and obtain more consistent returns.

Panthers set to host Independence volleyball tournament

IN an effort to provide an opportunity for the local players to get ready for the New Providence Volleyball Association season, the Central Gas Lady Panthers Club is scheduled to host its first Independence Volleyball Tournament.

Bahamas ‘50% likely’ to suffer credit rating cut

The Bahamas faces “at least” a 50 per cent chance of a sovereign credit rating downgrade within the next 90 days, after Standard & Poor’s (S&P) last night placed this nation on ‘negative creditwatch’ due to Baha Mar’s Chapter 11 filing.

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YOUNG MAN'S VIEW: The Baha Mar bombshell

Baha Mar, fraught with controversy from day one, is bordering on becoming known as a failed experiment.

Gov’t urged: Keep VAT ‘simple’ for real estate

A leading realtor yesterday urged the Government to eliminate potential market “confusion” by reducing the Value-Added Tax (VAT) rate on conveyances to 5 per cent, thereby maintaining the existing tax split.

Baha Mar’s $11.5m tax write-off . . . if it opens

Baha Mar will enjoy at least $11.5 million in tax write-offs if it is ever able to complete its development, Tribune Business can reveal, with its current debt to the Government pegged at $20 million.

Some mandatory VAT registrants ‘yet to come forward’

Six months into the implementation of Value-Added Tax (VAT) there are still some mandatory registrants who have not yet come forward, the Ministry of Finances Financial Secretary John Rolle said yesterday, but he added that revenue intake from the tax continues to “line up with expectations”. 

Critics ‘clouding’ new Fly Fish regulations

The Bahamas Fly Fishing Industry Association’s president yesterday accused critics of “clouding” the issues surrounding proposed regulatory reforms, arguing that the success of local fishing lodges hinged on the treatment of Bahamian guides.

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Former NBA player to host basketball camp

RETIRED NBA player Kenny Anderson is excited to be in Grand Bahama to share not only his talent but his life experiences with young people at a basketball camp/clinic set for this weekend on the island.

Flat fishing regulations

An open letter to V Alfred Gray, Bahamas Minister of Agriculture and Marine Resources

Mitchell says no policy discourages investment

IMMIGRATION Minister Fred Mitchell yesterday defended the country’s immigration policy against claims that it has discouraged foreign investment.

Rules for fishing the flats

I am an Italian citizen and a passionate fly fisherman. I am really worried of the situation I will face arriving in Exuma for my hard earned holidays with my spouse on July 4, 2015.

‘My $1m investments don’t fit in Bahamas’

An ex-MP whose entire $1 million investment has been endangered by the never-ending wait for Government approvals says: “The system has decided I don’t fit in the Bahamas.”

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Laing: Immigration can boost economy

FORMER State Minister for Finance Zhivargo Laing believes that the country should look at its immigration policy as a means of bringing new economic injection in The Bahamas.

Cable slams URCA on ‘languishing’ 27% TV price increase

Cable Bahamas’ chairman has accused the Utilities Regulation and Competition Authority (URCA) of allowing its application for a 27 per cent basic pay-TV price increase to “languish with no end in sight”.