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Super Value to collect $20-$25m VAT for Gov’t

Super Value’s owner yesterday said he expects to collect $20-$25 million in Value-Added Tax (VAT) for the Government this year, while warning that much more consumer education is required.

Auto dealers seek up to 15% pt margin rise

Bahamian auto dealers are pushing for price control margin increases of up to 15 percentage points, warning that these are vital to their survival now Value-Added Tax (VAT) has been implemented.

It's up to You, the Government

EDITOR, The Tribune.

Business Licence slash unlikely until 2016-2017

The Tax Coalition’s chairman yesterday said he took government pledges to review Business Licence fees during the 2015-2016 Budget preparations “with a grain of salt”, suggesting any changes were at least another year away.

My plan to save Bank of Bahamas

Drastic action is still requured at Bank of the Bahamas. In March 2012, I wrote an article exposing the fact that the Bahamas was experiencing a housing crisis. In the same article, I predicted a ‘small cap’ retail banking crisis, and this is exactly what the Bahamas is experiencing at this very moment. The purpose of this article is to outline why this bank must not be allowed to fail, and what exactly needs to be done to avoid failure.

Christie remains optimistic over new tax

PRIME Minister Perry Christie yesterday remained confidently optimistic about government’s implementation of the Value Added Tax (VAT), which came into effect yesterday.

BoB: 'Measure us' from 2015's start

Bank of the Bahamas is hoping its financial performance will “start to be measured” from the New Year onwards, after it unveiled an expected $4.198 million net loss for the 2015 first quarter.

FNM Deputy hits out at plans for social services help after VAT

FNM Deputy Leader Peter Turnquest yesterday criticised the government for failing to announce or address their plans for Social Services once value added tax is implemented tomorrow.

Cherubims rout Suns, T-Wolves top the Giants

THE Providence Basketball Club’s 2014 Holiday Classic came to a close at the Kendal Isaacs Gymnasium yesterday. Teleos Christian Academy Cherubims, CV Bethel Timberwolves and CV Bethel Stingrays all won their respective divisions to put the final touches on the round robin play.

Investor questions BoB web shop lending 'link'

An irate Bank of the Bahamas shareholder yesterday questioned why it is seemingly “comfortable” lending money to buyers in a real estate project that has links to the web shop industry.

Thinking sex

By Ian Bethell Bennett

AML ‘not where we want’ despite $1.22m rebound

AML Foods is “not where we want to be” on third quarter profitability despite enjoying a $1.22 million swing into the black, with the post-Back to School recovery in consumer spending taking longer each year.

Gov’t to ‘clarify’ VAT communications

The Government has agreed to “clarify” Value-Added Tax (VAT) communications previously slammed as misleading by retailers, in a bid to avoid stoking tensions between the two sides and consumers.

Gov’t deficit grows 56% to strike $151m

The Government’s fiscal deficit “deteriorated” by 56 per cent during the first quarter of its 2014-2015 financial year, growing by $54.1 million to hit $151 million.

BoB reporting ‘integrity’: 12-month validation sought

The Central Bank was so concerned about the accuracy and “integrity” of Bank of the Bahamas’ regulatory reporting that it demanded Ernst & Young “validate” all materials submitted to it for 12 successive months.

RBC agrees $35m fine over scheme involving Bahamas

Royal Bank of Canada (RBC) has agreed to pay a $35 million civil fine to US regulators over a “massive wash trading scheme” that involved its Bahamas branch.

Shareholders: BoB 'indifferent' to top-level change

Disgruntled Bank of the Bahamas shareholders are complaining their demands for sweeping Board and management changes have been met with complete indifference, with Thursday’s annual general meeting (AGM) doing little to inspire confidence in an immediate financial turnaround.

The Tribune

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