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Official: VAT payable onpre-existing contracts

Value-Added Tax (VAT) will be charged on pre-existing business contracts from the July 1, 2014, implementation date onwards, a top government official confirmed yesterday.

BRONZE MEDAL WINNERS TREATED TO RECEPTION

BACK home after a successful showing at the ninth CAZOVA Junior Men’s Championships, the team was treated to a reception at the Ministry of Youth, Sports and Culture on Tuesday as the celebrations began for the Bahamas’ bronze medal performance over the weekend in Pointe-A-Pitre, Guadeloupe.

Alert as hackers target bank account details

A HACKER is now busy on the Internet trying to get your confidential information — even bank accounts — through your e-mail. And so, readers, if you receive a message headed – IMPORTANT DOCUMENT!!! – delete it immediately. Don’t let your curiosity lead you to opening it to find out what it is about, because you too will be caught in the information net.

Central Bank: Economy not cutting jobless rate

The Central Bank of the Bahamas has warned that the Bahamian economy is not expanding fast enough to reduce the 13.7 per cent unemployment rate, with tourist arrival growth less than one-third of 2012’s performance.

YOUNG MAN'S VIEW: The problem with funding

IN the wake of the now infamous Peter Nygard video—Nygard takes the Bahamas back—it is clear that the Bahamas is in need of an Integrity Commission, the enforcement of the Freedom of Information Act and—on a broader scale—an Office of the Ombudsman.

Broker 'bit player' in multi-million frauds

A Bahamian broker/dealer and its owner have described themselves as “bit players at most” in two alleged multi-million dollar financial frauds, accusing US regulators of attempting to portray them as “unscrupulous”.

CFL: Karl McCartney continues to excel with the Stampeders

ALREADY with an established reputation as a special teams ace, Karl McCartney continues to excel in his fourth season with the Calgary Stampeders of the Canadian Football League.

Humble thoughts on VAT and its meaning

Let me open by saying that I am a born and raised Bahamian with a deep love for my country, its people and, of course, the beauty that surrounds us. We are very fortunate and we enjoy an unbelievable quality of life compared to many other Caribbean countries and countries around the world.

'Holy Grail' needs 10% duty with VAT

Reducing Customs duties to 10 per cent at the same time Value-Added Tax (VAT) is introduced would enable the Bahamas to achieve “the Holy Grail” of matching US prices and increasing government revenues.

Pastors continue winning streak

The Pastors continued their winning streak, the professionals known as the ‘Beast’ were dominant and both No Bull and Showtime proved why they’re two of the best junior programmes as they all shined on the final day of 18th Annual Nelson Cooper ‘Peace on da Streets’ Basketball Classic.

Fidelity fears 'deterioration' as taxes triple

Fidelity Bank (Bahamas) yesterday warned that its 2013 second half performance was likely to “deteriorate” due to the impact of its new $1.2 million Business Licence fee, a development that will triple its tax burden.

Poor Gov't consultation aviation's 'top threat'

A BAHAMIAN airline chief executive yesterday warned the Government’s failure to consult was “the greatest threat to our survival” in the aviation industry, suggesting that some airlines could be paying up to $1,200 extra in Customs fees per day.

VAT revenue boost equal to 2% of GDP

The Government believes that Value-Added Tax’s (VAT) introduction will generate a net revenue increase equivalent to 2 per cent of gross domestic product (GDP), and expects to achieve most of this from the ‘get go’.

An outside solution to Freeport's plight

This note was prompted by Dionisio D’Aguilar’s speech, ‘The Freeport Model - Obsolete Relic or Untapped Opportunity’, delivered to the Grand Bahama Chamber of Commerce on 15 May, 2013.

'VAT should be part of broader economic reform'

FREEPORT – Former Prime Minister of Barbados Owen Arthur says the introduction of a Value Added Tax should be viewed as an essential part of the broader sweep of economic reforms in the Bahamas.

VAT could grow 'black economy'

Value-Added Tax (VAT) could result in the expansion of the ‘black economy’, a leading chief executive has warned, plus undermine consumer spending and the retail economy.

Gov't delays Cable deal 'related party' payouts for 30 months

Philip Keeping and Troy d’Arville, the Furniture Plus chief, will have to wait 30 months to be paid for their collective 37 per cent stake in an Orlando communications firm, due to government-imposed conditions on its acquisition by Cable Bahamas.

AML targeting 50% dividend 'minimum'

AML Foods yesterday said it was ultimately aiming to return a “minimum” 50 per cent of annual profits to shareholders, while disclosing that the Budget’s Business Licence hikes had discouraged it from further job-creating expansion.

DNA chief: I couldn't get into business now

The Democratic National Alliance’s (DNA) leader yesterday said today’s economy would prevent him from entering business in the manner he did 20 years ago, describing the Budget as lacking vision and providing “no light at the end of the tunnel”.

ADRIAN GIBSON: What Independence means to the Bahamas at 40

COLUMNIST Adrian Gibson, who pens “A Young Man’s View” for The Tribune’s sister publication, The Big T, each Saturday, gives his assessment of our 40 years of independence, on the eve of the anniversary.

The Tribune

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