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VAT filing cut for $5m companies
The Ministry of Finance's top official yesterday voiced optimism it will "not be a big problem" for Bahamian companies with annual turnovers exceeding $5m to file and pay their VAT returns within 14 days.
PM says $22m allocated to invest in and expand renewable energy in Bahamas
PRIME Minister Philip “Brave” Davis outlined his administration’s efforts to expand the use of renewable energy.
PM reveals 2023 budget with no new taxes, pledges to improve collections
PRIME Minister Philip “Brave” Davis said the government is arresting the national debt and reducing the deficit, unveiling a budget yesterday that aims to improve the country’s fiscal performance through better tax collection rather than introducing new taxes.
DEREK SMITH: How social responsibility is affecting financial institutions
In recent years, environmental, social and governance (ESG) factors have become increasingly important for financial institutions. The ESG approach goes beyond traditional financial metrics, instead focusing on sustainability, responsible investment and ethical practices. This article aims to explore two negative, and two positive, aspects of ESG and how it can impact financial institutions.
Bahamians ‘on notice’ over credit delinquency
A Central Bank official has placed Bahamians "on notice" that they will no longer be able to "conceal" existing loan facilities or debt delinquencies when applying to lenders for new credit.
New healthcare facilities announced by the PM
Prime Minister Philip Davis announced yesterday new healthcare facilities for New Providence and Grand Bahama.
More funds for BAMSI and farmers markets
Prime Minister Philip Davis announced the government will maintain capital expenditure in agriculture.
Pintard differs with PM on GBPA
The Prime Minister and Leader of the Opposition share very different views on the future of the Grand Bahama Port Authority (GBPA) and how its engagement with the community on Grand Bahama should continue.
Pintard criticises ease of doing business
The Leader of the Opposition said the government has not improved the ease of doing business and said it is “quite the opposite".
BAAA Age Group Trials, Kids Athletics Championships combine starts today
The Bahamas Association of Athletic Associations (BAAA) is set to host the combined Age Group Trials and Kids Athletics Championships starting today at 5pm. The three-day meet will run from Thursday to Saturday at the original Thomas A Robinson stadium.
Centreville Primary ‘plays tennis’ for fourth week
CENTREVILLE Primary School students have made great strides since partaking in The Bahamas Lawn Tennis Association’s (BLTA) Play Tennis programme for the spring session.
Bahamas Karate Championships get underway on Saturday
THE Bassai Bahamas Karate-Do will host the second edition of the open karate tourney this weekend at the Kendal G L Isaacs Gymnasium.
What happened in London won’t stay in London
IF readers permit, I would like to write a ‘part 2’ to my note on the coronation, offering reflections on the impact on the Coronation week, and its lasting impact for the UK and The Bahamas.
ALICIA WALLACE: Customer service and ways to improve it
CUSTOMER service in The Bahamas is, more often than not, severely lacking in professionalism and care. Jobs in this area are often considered entry-level and pay minimum wage or close to it.
BUT will pursue industrial action if teachers not paid monies owed
BAHAMAS Union of Teachers president Belinda Wilson threatened to lead her union to industrial action if teachers do not receive their responsibility allowance by next month.
RCI spending $50m to restore western PI beach environment
AN estimated $50m will be spent to restore the western Paradise Island environment that will feature Royal Caribbean International’s Royal Beach Club project if it gets final approval, according to RCI’s chief product and innovation officer Jay Schneider.
Boating industry watches for VAT yacht charter ease
A former Association of Bahamas Marinas (ABM) president says the industry is "eagerly" waiting to see if the VAT on yacht charters is adjusted in today's Budget as he blamed its imposition for a 20 percent gross revenue fall at his business.
Corporate tax paper 'setting foundation' to broaden base
A prominent banker yesterday asserted it was no accident that the Government released its corporate income tax 'green paper' just days before the Budget, adding: "It needs to increase its revenue base."
The Budget Communication – as it happened
Prime Minister Davis says the Budget aims to strengthen national security, economic security and the lives of people of The Bahamas. He says the global economy is showing signs of improvement although there is still much work to be done to recover from recent challenges. He adds that average consumer prices rose in the US by eight percent, while policy rate of interest has been raised ten times, driven primarily by rising inflation. He highlights the effects on The Bahamas in terms of higher borrowing costs.
Forecast 78% deficit slash 'significant ask'
Achieving current projections of a 78 percent year-over-year cut in the Government's fiscal deficit will be "a significant ask" based on existing trends, a governance reformer warned ahead of today's 2023-2024 Budget.
