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DNA dismisses PM's VAT comments as 'nonsense'

DNA leader Branville McCartney has dismissed Prime Minister Perry Christie’s latest comments on Value Added Tax as “utter nonsense” and criticised the government for trying to ram what could prove to be a disastrous tax system down the throats of Bahamians.

10% VAT-induced inflation branded 'an exaggeration'

A senior Ministry of Finance official has described estimates that the proposed Value-Added Tax (VAT) would increase consumer prices by around 10 per cent as an “exaggeration”, with the Government set to imminently release its own projections.

Bahamian retailers set to create 'Federation'

Bahamian retailers will meet tomorrow to further their bid to create an industry Federation, with sector players warning it would be “catastrophic” not to warn the Government about Value-Added Tax’s (VAT) likely impact.

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By NEIL HARTNELL

TOUGH CALL: Opening our eyes to how dolphins are treated

FOR most people of a certain age, our image of the cheerful, helpful and super intelligent bottlenose dolphin was formed by the iconic 1960s Flipper television series – a marine version of Lassie.

Gated communities fearing VAT fee rises of up to 32%

Fears were expressed last night that home/property owners fees in gated communities and condo complexes could rise as much as 32 per cent with Value-Added Tax’s (VAT) implementation, one management company warning it would have “a big impact”.

Nassau/PI resort room revenues decline 7.4%

The Bahamian economy remained “relatively flat” in September, the Central Bank of the Bahamas revealing yesterday that Nassau/Paradise Island hotel room revenues were down 7.4 per cent year-to-date for the first nine months of 2013.

A VAT we hate, but politicians love

Politicians love the cumbersome system we call Value-Added Tax (VAT) as much as businesspeople resent it. Governments prefer it to direct taxation because they hope voters will believe the tax rate is lower than it really is. Those in commerce regard it as another example of labor-draining government bureaucracy.

Public Hospitals Authority targets $100m from investors

The Public Hospitals Authority (PHA) is seeking to ultimately raise $100 million from investors via a series of bond issues, despite its financials showing it is ‘technically insolvent’ without the Government’s annual subsidy.

FNM questions Gov't priorities on bank infusion

THE Free National Movement’s (FNM) chairman yesterday called into question the Government’s financial priorities in light of its $31.5 million capital injection into Bank of the Bahamas International (BOB), telling Tribune Business: “There appears to be a bigger story than meets the eye”.

MARATHON SPOTLIGHT: Taking part in race a landmark for runner

AS part of our coverage of the Sunshine Insurance Race Weekend next January 18 and 19, The Tribune is throwing the spotlight on some of the people planning to run. Today, Ursula Pratt, from Freeport, whose life changed after taking part in the Susan G Komen Bahamas Race for the Cure.

Bank's provisions spike $700k on jobless growth

Bank of the Bahamas yesterday revealed that last month’s 2.2 percentage point increase in the unemployment rate caused a $700,000 one-time spike in its credit loss provisions, as it warned shareholders to brace for more potential losses.

Bank wants Gov't to underwrite Out Island expansion

A BISX-listed bank yesterday said it was effectively looking for its majority Government shareholder to underwrite its branch expansion to Bimini and Abaco, and expects to have a presence in the former “within six months”.

Tax Coalition: Phase VAT in over three years

The Government should examine “phasing in” Value-Added Tax (VAT) over a three-year period, a co-chair of the private sector’s Coalition for Responsible Taxation warning: “You can’t implement taxes to the peril of the economy.”

Gov't: No 'immediate' business licence fall with VAT introduction

A senior official yesterday confirmed that the Government has dropped immediate plans to lower Business Licence fees to a nominal annual $100, as it wants to first assess how Value-Added Tax (VAT) performs post-implementation.

Business Licence contingency 'a bit dangerous'

A leading accountant yesterday described the Government’s seeming reliance on Business Licence fees as a Value-Added Tax (VAT) contingency as “a bit dangerous”, warning that they would not all be immediately reduced to $100 as previously promised.

YOUNG MAN'S VIEW: Future up in the air

IN order for true national development to be attained, the government—if only for a period—must pass essential air services legislation and/or implement regulations that would foster a greater interconnectivity of our archipelago.

Do you love yourself enough?

How many times have you asked or heard others ask - what is love? Many people actually believe they have some conclusive insight into this often-elusive phenomenon called love.

BTVI solar energy course heats up

The Bahamas Technical and Vocational Institute (BTVI) is set to kick its solar training programme into high gear, in a bid to create a Bahamian workforce trained in renewable energy installation.

Bahamas has Caribbean 'low' on import cover

The Bahamas has the “lowest level” of foreign reserve import coverage in the Caribbean, a top Royal Bank of Canada (RBC) economist yesterday describing the situation as “critical”.

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