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Web shop chief backs delay in licence bid deadline
THE head of the country’s largest web shop chain has confirmed that the government’s decision to extend the deadline for web shops to submit their bids for licences was due to a “discrepancy on the back taxes and the interpretation of what turnover is”.
Freeport ‘stagnated’; Cayman attracted $6bn
A well-known attorney yesterday called for Freeport’s population to double within 20 years, questioning why it had “stagnated” as its fellow hurricane-hit island, Cayman, attracted $6 billion in investments over the past decade.
Freeport committee to report in 8 weeks
The Government-appointed six-member committee that will lead discussions on Freeport’s expiring investment incentives and long-term future is aiming to complete its report in eight weeks, its chairman yesterday admitting this was an “overly ambitious goal”.
‘No way’ Freeport can bear two sets of taxes
There is “no way” that Freeport businesses could pay two sets of taxes, a senior private sector executive yesterday urging the Government to “definitely” renew the city’s expiring investment incentives until 2054.
Cable: URCA regulations ‘impede’ mobile roll-out
Cable Bahamas has warned that the Utilities Regulation and Competition Authority’s (URCA) own infrastructure sharing regulations will prevent the winning mobile bidder from meeting the Government’s “ambitious” network roll-out targets.
Beware the promises of the national health scheme
WE HAVE been told that the report for the introduction of a National Health scheme, prepared by Sanigest Internacional, a Costa Rican firm, which was delivered to the government on October 12 last year, is not for general consumption.
Freeport accuses Gov’t of breaching two laws
The Government was yesterday accused of breaching two laws with its new demand that Value-Added Tax (VAT) be levied on bonded fuel sales to Freeport businesses, who slammed its “my way or the highway” approach.
Further taxes too on alcohol and tobacco and rise in NIB ceiling
GOVERNMENT consultants have suggested the Christie administration levy a 5.8 per cent pay roll tax, increase taxes on “luxury items” such as alcohol and tobacco and “double” the ceiling for National Insurance Board contributions to fund the proposed National Health Insurance scheme, The Tribune understands.
VAT to hit CIBC operating costs
CIBC FirstCaribbean believes the factors that drove a 74.8 per cent first quarter profit increase will remain present throughout 2015, even though Value-Added Tax (VAT) will grow its Bahamian subsidiary’s operating expenses.
CIBC regional chief ‘more optimistic’ on Bahamas recovery
CIBC FirstCaribbean’s regional chief executive is “certainly more optimistic” about the Bahamas’ immediate recovery prospects compared to many of its local rivals, describing the Caribbean economy as having reached “a tipping point”.
CIBC promises to expand Bahamas Mortgage centres
CIBC FirstCaribbean plans to open more dedicated ‘Mortgage and Loan’ centres in the Bahamas this year following the inaugural location’s “tremendous success”, its regional chief executive pledging further investment in this nation.
Firms ‘getting VAT a lot more’
Businesses are “getting it a lot more” in terms of how Value-Added Tax (VAT) works, the tax’s Comptroller praising the private sector for “tremendous progress” during the transition period.
Bank unable to recover 95% of VAT ‘inputs’
Commonwealth Bank yesterday predicted it would be unable to recover 95 per cent of its Value-Added Tax (VAT) input payments, given that ‘exempt’ revenue streams form the bulk of its income.
BTC chief projecting 30% mobile share loss
The Bahamas Telecommunications Company’s (BTC) chief executive yesterday said the industry “rule of thumb” is that the second Bahamian mobile operator will seize 30 per cent of its market share.
TOUGH CALL: ‘Beautiful beyond description’ but Little Harbour faces change
A FEW years ago, I visited Little Harbour on Abaco – a solar-powered community of some 50 homes encircling a picturesque cove near Cherokee Sound.
1,500 to be using social services debit card ‘by end of month’
NEARLY 1,500 people in New Providence will be able to utilise the Department of Social Services’ new pre-paid debit card by the end of this month, Social Services Minister Melanie Griffin has announced.
Gov’t ‘puts cart before NHI horse’
The Government was yesterday accused of “putting the cart before the horse” on National Health Insurance (NHI) by telling the Bahamian people they would be taxed without knowing the total cost imposed on them.
Rihanna and misplaced priorities
Baha Men founder Isaiah Taylor along with Bahamians who have a keen interest in PM Perry Christie’s brainchild Junkanoo Carnival are anxious to know who will be the lead act at the imported foreign cultural event.
Broker in new battle with SEC
US federal regulators are embroiled in a new dispute with a former Bahamian broker/dealer and its principal - this time over the location where they should give their sworn testimony.
More than 1,000 queue for a few dozen jobs
MORE than 1,000 people queued up outside Sandals Royal Bahamian Resort in Cable Beach yesterday for the resort’s career fair despite the limited positions available.
