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The right way to make money

THERE has been much talk of late about boosting revenue collection and generation, no doubt spurred on by pressure from international credit rating institutions to address our considerable national deficit.

Bank deal targets top green energy 'hurdle'

A Bahamian renewable energy provider believes it has achieved an industry first through its financing tie-up with Commonwealth Bank, a move designed to overcome “the biggest hurdle” to the industry’s expansion.

CHAMBER VOICE: Making the most of what we have

WHILE registered voters in the Bahamas make their way to the polls today to decide whether or not to accept, and support, local gambling, businesses make similar decisions daily.

BEC backs net billing over metering

The BAHAMAS Electricity Corporation (BEC) prefers net billing to net metering, its general manager yesterday pledging that the utility would work with the Government to implement the legislative reforms necessry to facilitate renewable energy growth.

Flowers: Web shop numbers 'don't mean a hill of beans'

A leading web shop operator yesterday said the industry’s current financial numbers “don’t mean a hill of beans”, arguing that the sector’s performance would change markedly in a regulated environment,

VAT 'less clean' to oversee than Customs duties

A Value Added Tax (VAT) will be “less clean” for the Government to oversee due to its several thousand collection points, a leading Bahamian accountant yesterday describing its administration as the “biggest challenge”.

‘Devastating effect’ from 28% credit card withholding

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday warned that new US laws implementing a potential ‘28 per cent withholding tax’ on credit card transactions could have a “devastating impact” on the private sector, as one business told Tribune Business it had seen some $20,000 in payments held back.

GB Power capital raising ends $19m ‘current deficit’

Grand Bahama Power Company’s (GBPC) successful $32 million preference share issue will eliminate a $19.205 million deficit that previously existed between its current assets and liabilities, with its net income performance already showing the benefits of its revised tariff structure.

AML: Semi-annual dividend ‘next step in our progression’

AML Foods yesterday said it was aiming to further reduce a key expenses line to the “mid-27 per cent range”, while disclosing to Tribune Business that it was increasing dividend payments to a regular semi-annual frequency.

BISX-listed firm’s affiliate in $75.5m ‘discrepancy’

There is a $75.5 million discrepancy over the sum allegedly held by a BISX-listed firm’s broker/dealer affiliate for a claimed multinational fraud, Tribune Business can reveal, with regulators having seized computers and a server from its downtown Nassau offices.

US ends Bahamas winning streak

AFTER three wins for the Bahamas against Barbados, Austria and the “International” team, the United States of America proved too strong for the Bahamas tennis team in the final day’s play off for first place, overcoming them by three matches to two.

Commercial court can become reality ‘within one year’

The Bahamas could have a functioning commercial court within a year of the Cabinet deciding to establish it, a senior QC told Tribune Business yesterday, adding that such an investment “would more than pay for itself in a very short time period”.

Bahamas beats Austria to face US today in final

AFTER recording wins over Barbados and the “International” team on the first two days, the Bahamas pulled off its third victory in a row to beat the seeded Austrian team 3-2 in the Bahamas (IC) International Tennis Doubles event at Breezes.

Chamber chief ‘astounded’ by 4,000 VAT payers

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive yesterday said he was “astounded” by government figures showing less than 4,000 companies would be liable to pay Value Added Tax (VAT), adding that this emphasised the urgency of passing legislation designed to strengthen the small business sector.

GB Power offering 35% oversubscribed

Grand Bahama Power Company (GBPC) yesterday announced that its $32 million preference share issue had closed a week earlier than planned, after it was oversubscribed by more than 35 per cent.

Teaching yourself is the real world

Do you have the ability to self-teach?

National team named for ICC Tourney of Americas

With a big year on tap for the Bahamas Cricket Association, the local governing body of the sport has named the national team to represent the country as preparations are well underway for hosting international competition.

RoyalStar: ‘Significant’ $4m profit despite Sandy

A leading Bahamian insurer yesterday said it generated a “significant profit” of around $4 million for 2012 despite Hurricane Sandy, adding that its conservative “philosophy” had been vindicated by an ‘outlook upgrade’ from the sector’s top rating agency.

‘Mind blowing’: Under 4,000 firms face paying VAT

Under 4,000 Bahamian companies would likely face having to pay a Value-Added Tax (VAT), a Cabinet Minister describing as “mind blowing” the fact over 85 per cent of businesses might be exempt.

Intelligence provider to address BFSB’s Summit

A leading intelligence provider for the private banking industry is a featured speaker at the upcoming International Business & Finance Summit (IBFS).

The Tribune

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