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Firm's $1.1m ramp up for alternative energy 'explosion'
A Bahamian-owned company has invested $1.1 million over the past year to ‘ramp up’ its business ahead of a renewable energy “explosion” that will meet the Government’s 2030 alternative supply target.
Corporate income tax 'not on Gov't agenda'
The Government is not planning to introduce “a broad-based corporate income tax”, as recently urged by the International Monetary Fund (IMF).
VAT covering 99% of economy despite $50,000 exemption
THE Government’s plan to exempt businesses with an annual turnover of $50,000 or less from paying Value Added Tax (VAT) will capture “99 per cent” of the turnover taking place in the Bahamian economy, a senior Ministry of Finance official believes, relieving small businesses from the compliance burden.
TOUGH CALL: The vexing question of pictures on online media
When a cellphone picture of the alleged assault was circulated around their Nova Scotia high school, Rehtaeh immediately dropped out, and eventually committed suicide. Her funeral was held on Saturday.
Galanis: Flat $100 Business Licence fee is ‘mistake’
A prominent Bahamian accountant yesterday urged the Government to reconsider its proposal to reduce all Business Licence fees to a flat $100 rate, arguing that such a move would “fly in the face” of achieving equality in taxation policy.
Customs duties under 20% ‘not a far stretch’
Slashing Customs Duty rates below 20 per cent when Value Added Tax (VAT) is introduced is “not a far stretch”, a senior Ministry of Finance official said yesterday, adding that shifting the tax burden services should reduce the levy on imported goods.
Bahamas First in 18.5% motor claim increase
Bahamas First has seen a 20 percentage point decline in comprehensive insurance policies’ share of its auto book since the recession began, with total Bahamian motor claims increasing by 18.5 per cent in 2012. ==
Freeport 'permissible' under WTO requirements
Freeport’s ‘free trade zone’ status will be “permissible” under World Trade Organisation (WTO) rules, a well-known attorney argued yesterday, because the city has consistently been a net contributor to the Public Treasury.
$2.5m impact blunts Bahamas First profit
Bahamas First Holdings yesterday said it shrugged off a collective $2.5 million ‘hit’ from Hurricane Sandy and various investment/commission decreases to hit “90 per cent” of its 2012 comprehensive income target.
30% collateral slash: IMF in ‘real estate indices’ call
The value of property assets used to secure Bahamian commercial bank mortgages has fallen by up to 30 per cent, prompting the International Monetary Fund (IMF) to call for this nation to develop “real estate price indices”.
City Markets pension plan suffers $758k overpayment
The City Markets staff pension plan overpaid some beneficiaries by a collective $757,668 between 2004-2010, although some $4.216 million was left available to pay benefits as at end-January 2012.
30% collateral slash: IMF in 'real estate indices' call
By NEIL HARTNELL
IMF calls for Bahamas corporate income tax
The International Monetary Fund (IMF) yesterday warned it was “imperative” for the Bahamas to quickly reduce a national debt-to-GDP ratio that is on course to strike 76 per cent by 2016-2017, having urged the Government to introduce a corporate income tax.
Lourawls making a name for himself
Sunrise Christian Academy has become a major pipeline for Bahamian basketball talent at the high school level, and now the latest product of the Bel Aire, Kansas institution has drawn interest from some of the top NCAA programmes in the country.
'Major concern' over BISX listed firm's $5m prefs
The $5 million investment in a BISX-listed firm’s preference shares “is of considerable concern” to the liquidators of its largest client, who have warned that the deal will receive their “continued attention”.
$5bn national debtnot necessarily hit by latest bond
A former finance minister yesterday said the Government’s overdraft had come down to around $65 million, adding that its latest bond issue would not necessarily take the national debt beyond the $5 billion mark.
Plea to establish aircraft registry
AN ATTORNEY has called on the Government to move quickly to establish an aircraft registry to not only bring added business to The Bahamas but also ensure that the country meets ICAO standards for airport safety.
Net profit of $1.06 million FOR AML
AML Foods Limited recorded a 26 per cent total sales increase for its fourth quarter ending January 31, 2013, during which it recorded a net profit of $1.06 million.
Commissioner warning over use of social media
POLICE Commissioner Ellison Greenslade has warned the public not to post “lewd” or “obscene” pictures on social media and has vowed to pursue such cases and bring charges.
BAAA CHIEF: Carifta hiccups inevitable
MIKE Sands, Bahamas Association of Athletic Associations president, believes that “hiccups” were inevitable during Carifta as thousands flocked to the national stadium over several days.
