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Government to miss VAT registration goal

The Government will likely miss its November 30 target for registering all mandatory Value-Added Tax (VAT) paying businesses, a Task Force co-chair yesterday saying the process would not be completed until after the tax’s January 1 implementation.

Bahamas lacks 'social maturity' to accept Investor Citizenship

A Cabinet Minister believes the Bahamas lacks the “social maturity” to accept an Investor Citizen programme that would aim to attract the world’s wealthiest individuals to this nation and supply a major economic boost.

'Brand Bahamas' needed to make Asian inroads

By NEIL HARTNELL

SEC: Broker discovery objections ‘baseless’

US regulators have blasted a former Bahamian broker/dealer and its principal for allegedly using “baseless legal restrictions” to explain why they cannot produce documents relevant to their ongoing New York legal battle.

YOUNG MAN'S VIEW: More 'Lettergate' questions

The Renward Wells/Letter of Intent fiasco took another turn this week when the Cabinet office, late on Tuesday evening, released a statement that simply said that “the office of Parliamentary Secretary in the Ministry of Works and Urban Development (had) become vacant.” However, this terse statement could only be likened to a wonderfully choreographed piece of high-stakes politics at its sordid worst.

'Significant risk' from VAT registrant doubling

The Government is taking “a significant risk” if it believes just 4,000 businesses will register for Value-Added Tax (VAT), a Tax Coalition co-chair yesterday predicting the number might be double that.

MARKETING REVOLUTION: Establishing your company's domain

Most people understand that a ‘Domain Name’ is simply the basic web address of a website, but few actually grasp how domain names work.

Lighting up the darkness

By REV ANGELA PALACIOUS

Association maintenance fees declared VAT-able

The Ministry of Finance yesterday confirmed that maintenance fees for condominium and homeowners’ associations will be subject to Value-Added Tax (VAT) if annual billings exceed the mandatory $100,000 registration threshold, although there is “no upside revenue potential” for the Government.

‘Non-compliance’ forces Sports Authority into $237,000 write-off

The National Sports Authority has effectively been forced to write-off $237,000 due to “non-compliance” by users of the Thomas A. Robinson stadium in paying rental fees.

Insurers fear 'force feeding' over VAT

Family Guardian’s president wants the duration of insurance products, rather than type, to determine their Value-Added Tax (VAT) treatment amid fears that underwriters will be forced to “eat” the tax.

Bahamas to present at top wealth management summit

The Bahamas will participate in this year’s leading Latin American wealth management summit.

Albany clients hit by 'horrific' oil spills

Albany’s marina chief yesterday said he was “hoping and praying” the Government would finally take concrete action over persistent oil spills at Clifton Pier, as there had been several “horrific” incidents witnessed by the development’s high-end guests.

Port profits rise on expenses $1m below forecasts

Arawak Port Development Company (APD) cut budgeted expenses by more than $1 million to produce a 3.5 per cent profit increase for its 2014 financial year, offsetting the failure to hit revenue and cargo throughput targets.

Income tax 'on horizon' within next 10 years

A Tax Coalition co-chair yesterday said he believes a Bahamian income tax will be “the subject of great discussion, if not already on the books”, within a decade due to it being the only equitable reform option.

'Huge change' to VAT on tourism

The Government’s decision not to levy Value-Added Tax (VAT) on gross overseas sales and gratuities was yesterday branded “a huge change” that will ensure tourists are not directed away from the Bahamas.

NIB sets up committee to ensure readiness for VAT

WITH just over two months until value added tax is officially introduced in the Bahamas, National Insurance Board Director Rowena Bethel said the organisation has identified an internal committee to ensure that the organisation is ready once the tax is implemented.

The Tribune

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