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Gov't to reconfigure Bank of Bahamas Board

The Government is moving to reconfigure the Board of BISX-listed Bank of the Bahamas International, whose annual general meeting (AGM) has been delayed by the wait for directors to be named.

Broker elated over SEC fraud claim dismissal

A Bahamian broker/dealer and its principal were elated yesterday after a court threw out a US regulator’s claims that they knowingly helped perpetrate, and participated in, an $11 million securities fraud.

Broker's SEC lawsuit dismissal bid tossed

A Bahamian broker/dealer and its principal have seen their bid to dismiss one of two US regulatory lawsuits against them rejected by the southern New York court, Tribune Business can reveal.

Oceania Owners 'busting our ass' on turnaround

A LEADING homeowner at Exuma’s controversy-torn Oceania Heights project yesterday expressed disappointment that just 27 per cent of property owners had to-date paid their 2014 maintenance fees, telling Tribune Business he and several others were “busting our ass to turn this around”.

Tax Coalition urges price control end

The private sector’s Tax Coalition has added its voice to those urging that Price Controls be abolished, warning that food store overheads would have increased by between 7.5-12 per cent under a 15 per cent Value-Added Tax (VAT).

Robin Hood in reverse

EDITOR, The Tribune.

Car dealers need 40% sales rise for 'healthy profit'

New car dealers generally need “at least a 30-40 per cent” increase in sales to return to healthy profit levels, the Bahamas Motor Dealers Association’s (BMDA) president yesterday saying 2014 to-date had produced some initial recovery signs.

Insolvent broker's Liquidators possess $200k for $17.5m claims

The joint liquidators for Owen Bethel’s insolvent Montaque Capital Partners currently possess just $196,238 in liquid assets to cover total creditor claims of $17.5 million, it has been revealed.

Figures don't add up

EDITOR, The Tribune.

Gov't urged: 'Walk the talk' over new Immigration policy

A top QC yesterday applauded the Government’s promised ‘user-friendly’ Immigration policy as potentially “a significant game changer” for the Bahamian economy, but warned that this nation now had to “walk the talk”.

Attorney to take top aviation summit role

A Callenders & Company partner will play a prominent role at a major international aviation conference in Panama this April.

VAT rate slash celebration seen as premature

A well-known businessman believes it would be premature to celebrate the Government’s decision to lower Value-Added Tax (VAT) to below 15 per cent, as it is unclear how much duty rates will now be cut.

New immigration policy can 'revolutionise' sector

A Cabinet Minister believes the Government’s proposed ‘user-friendly’ Immigration policy can “revolutionise” the Bahamas’ position as an international business centre, suggesting it was likely to have been the financial services industry’s leading priority.

PM blasts failure over BTC's $62m pension deficit

The Ingraham administration failed to provide the $39 million financing promised in the privatisation process to cover the original Bahamas Telecommunication Company (BTC) pension fund deficit, Prime Minister Perry Christie last night alleging this had caused the shortfall to balloon to $62 million.

Under 3% support Gov'ts VAT plan

Less than 3 per cent of Bahamians would be prepared to pay Value-Added Tax (VAT) at its initially proposed 15 per cent rate it if was introduced on July 1, a survey of New Providence residents has found.

Don't be 'deer in headlights' if VAT not ready July 1

The Bahamas cannot adopt “a deer in the headlights” approach of Value-Added Tax (VAT) is not ready to go come July 1, a Tax Coalition co-chair yesterday calling for a phased approach to reform.

College hosts debate on VAT

A BUSINESSMAN called for more taxes for the wealthy - including himself - during a meeting at the College of the Bahamas to discuss the Value Added Tax proposed by government.

'Fundamental concern' over $1bn current account deficit

The Bahamas must develop a long-term plan to address the “structural imbalance in its balance of payments”, a former finance minister describing this as his “most fundamental concern”.

Tease photo

‘More than half of MPs owe property tax’

MORE than half the parliamentarians in the House of Assembly and the Senate are in arrears with their Real Property Taxes – owing millions of dollars to the government, DNA Leader Branville McCartney revealed yesterday.

Extra protection for consumers pledged after VAT

ALONG with the establishment of the Central Revenue Agency (CRA) which will make the collection of taxes in the Bahamas more efficient, the government will be strengthening the Consumer Protection Department to ensure that the public will not be taken advantage of by businesses illegally collecting VAT from their customers.