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VAT is added to BEC bills

THE government tabled the anticipated value added tax (VAT) bill in the House of Assembly yesterday while releasing a list of proposed changes to tariff and excise duty rates and disclosing a “pared down” list of VAT exempt services that does not include electricity.

INSIGHT: Lost opportunity: A case of what could have been

Since the mid-1990s, The Bahamas has encouraged Chinese foreign direct investment.

TOUGH CALL: The vexing question of pictures on online media

When a cellphone picture of the alleged assault was circulated around their Nova Scotia high school, Rehtaeh immediately dropped out, and eventually committed suicide. Her funeral was held on Saturday.

Renewable energy fury at suspension: Gov’t ‘not turning our back’ on sector

The Government yesterday pledged it was “not turning our back” on renewable energy, with senior officials describing the suspension of its much touted self-generation initiative as “in the best interests of all”.

Joaquin claims give rise to VAT dispute

The Government is at odds with the insurance industry over the recovery of Value-Added Tax (VAT) paid on Hurricane Joaquin claims, Tribune Business can reveal, with some believing the Christie administration has changed a previously-agreed position.

Does government plan to go into health insurance business?

ACCORDING to PLP Chairman Bradley Roberts the Bahamas’ private insurance companies want to form their own “monopolistic cartel with unfettered powers to raise premiums to ensure profits.” Mr Roberts claims that the private companies want no government involvement in universal health insurance, the implementation of which is only a month away.

Don’t gamble away the legal profession

Do you consider yourself a gambler? Opening the Bahamian legal system to foreign law firms is just that: A gamble. There is only a small chance (20 per cent, give or take) that opening the legal system to foreign law firms will drastically increase offshore financial services bsiness for the Bahamas.

80% Parliament backing needed for spending rise

Fiscal Responsibility legislation must “make it extremely difficult” for the Government to exceed Budget spending forecasts, an outspoken businessman yesterday demanding that any increase require at least 80 per cent Parliamentary approval.

Business Licence fee ‘taxing firms into loss’

The private sector has hailed the International Monetary Fund’s (IMF) call to simplify a “non-progressive” Business Licence fee system that taxes companies into losses.

Bran blasts ‘spending like drunken sailors’

The Democratic National Alliance’s (DNA) leader yesterday accused the Government of squandering its Value-Added Tax (VAT) revenue boost, saying: “We seem to be spending money like drunken sailors.”

RICHARD COULSON: Investors need more Cable issue details

A welcome development for our capital markets is the recent announcement by Cable Bahamas of its one-for-eights rights offering to its existing shareholders.

Gov’t ‘playing with fire’ over $200m spend rise

The Government was yesterday warned it is “playing with fire” through the $200 million year-over-year increase in recurrent spending, with a businessman suggesting this threatens to squander the ‘benefits’ from Value-Added Tax (VAT).

PHA exceeds bond target with $26-$27m

The Public Hospitals Authority's (PHA) $25 million bond issue closed slightly oversubscribed, its financial advisers estimating that between $26-$27 million has been raised from investors.

‘Don’t promise what you cannot deliver’

The Government’s failure to deliver on any of its Fiscal Responsibility targets has prompted the Chamber of Commerce’s chairman to warn: “Don’t promise what you can’t deliver.”

Gov’t ‘not abandoned’ fiscal responsibility, greater transparency

A Cabinet Minister yesterday backed the need for greater Government transparency and accountability over its finances, and pledged that it had “not abandoned” consultation on Fiscal Responsibility-type legislation.

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”.

IMF raises ‘jobless cut’ growth to 7%

The International Monetary Fund (IMF) yesterday upped the average five-year GDP growth rate that the Bahamas needs to both absorb new workforce entrants, and slash the existing jobless rate in half, from 5 per cent to 7 per cent as it urged this nation to rapidly tackle “structural impediments”.

The Tribune

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