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Davis Jr shines in Grand Bahama battle

THIS past holiday weekend, all eyes in the Bahamian golfing community were focused on the island of Grand Bahama where the Bahamas Golf Federation held its 2014 National Amateur Championship.

Moss slammed over V.A.T. blast

PLP chairman Bradley Roberts criticised Marco City MP Greg Moss yesterday for speaking “out of turn” when he said implementing value added tax “goes against the principles of the party”.

BISX chief in $15m Bargain City deal

The Bahamas International Securities Exchange’s (BISX) chief executive is a principal in a $15 million deal to acquire the well-known Bargain City Shopping Plaza on Carmichael Road.

Gaming VAT: Casinos 'vehemently opposed'

MAJOR casino operators are “vehemently opposed” to suggestions that Value-Added Tax (VAT) should be levied on players via the gross sum bet, fearing this could make them “less competitive” than North American rivals.

'Disastrous effect' fear if general insurance VAT-able

Placing general insurance into the ‘VAT-able’ category will have a “disastrous effect” on the Bahamian economy, a leading industry executive arguing that the New Zealand tax consultants were “mixing up apples and oranges”.

Davis Cup stars power past Panama

THE day off worked out perfectly for the Bahamas team at the American Zone III Davis Cup Tie at the Palmas Athletic Club in Humaca, Puerto Rico.

S&P: ‘All possibilities on table’ over rating

Standard & Poor’s (S&P) yesterday said “all possibilities are still on the table” over the Bahamas’ sovereign credit rating, with “execution” of Value-Added Tax (VAT) and other Budget measures key to avoiding a further downgrade.

Consultants: Put VAT on gambling

The Bahamas should levy Value-Added Tax (VAT) on all forms of gaming, with consultants urging it to follow New Zealand’s lead by taxing players through the gross sum bet.

Credit union enjoys 'record breaking' 14% member growth

A well-known credit union yesterday said it had enjoyed a “pretty good year” in 2013, with “record breaking” 14 per cent growth in its membership coupled with a just under 8 per cent increase in total assets.

VAT consultants call for 'doubtful debt allowance'

The Bahamas should include a ‘doubtful debts allowance’ in its Value-Added Tax (VAT) legislation, the two Zealand consultants suggesting that this “seems necessary” to alleviate “significant cash flow difficulties”.

Nation has most loans in region written off

PORT OF SPAIN, Trinidad - Delinquent mortgages in The Bahamas represented a “lion’s share” of the non-performing loans written off by CIBC FirstCaribbean this year, the bank’s CEO Rik Parkhil said yesterday.

PLP Chairman praises Budget

PROGRESSIVE Liberal Party (PLP) Chairman Bradley Roberts praised the government’s 2014/2015 budget and said the Christie administration’s fiscal plan “charts a course for a brighter future through fiscal reform, economic growth and jobs creation.”

Bahamas near bottom at 40% 'tax capacity'

The Bahamas is currently operating at just 40 per cent of its tax capacity, the Government’s US consultants have warned, ranking this nation near-bottom of 98 countries.

'Struck by abuse' of 15% VAT's exemptions

The New Zealand tax consultants were “struck by the potential for abuse” created by the “substantial list of exemptions” under the Government’s initial 15 per cent Value-Added Tax (VAT) model.

Davis Cup team falters in Cuba tie

IT wasn’t the type of start that the Bahamas men’s national team expected at the Davis Cup Americas Zone III tie on Monday.

Bank bracing for short term VAT default 'spike'

Commonwealth Bank’s president said yesterday it anticipates a short-term spike in delinquencies when Value-Added Tax (VAT) is implemented on January 1, having estimated the previous model would have increased its own annual costs by $4 million.

Broker blasts SEC's 'fraud' re-pleading

A Bahamian broker/dealer has blasted attempts by US regulators to re-plead previously dismissed fraud allegations against, arguing that its “boilerplate claims” would only create “a pointless burden and expense” for all.

Licensing delays cost Doctors Hosp $1.275m

Licensing and permit delays for its medical tourism programme cost Doctors Hospital $1.275 million in its last financial year, helping to propel it to a collective $261,391 net loss.

Striping group '90% there' on $8.25m PPP

The Bahamas Striping group is “90 per cent there” in talks with the Government over an $8.25 million ‘public-funded partnership’ (PFP) for airport and road maintenance throughout the Bahamas.

Bahamas FDI inflows fall by some 29%

Foreign direct investment (FDI) inflows into the Bahamas fell by 29 per cent year-over-year in 2013, a United Nations (UN) body has reported.

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