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Tourism labels 2014 VAT 'unacceptable'

The Bahamian hotel industry yesterday urged the Government to push the Value-Added Tax (VAT) implementation deadline back into 2015, warning this had to be got right first time to avoid “killing the goose that lays the golden egg”.

Wilson: Gov't 'unwise' to ignore VAT fears

The Government’s biggest private sector supporter believes it would be “unwise” to ignore the “widespread opposition” to Value-Added Tax (VAT), as he appeared to back the merits of a payroll tax alternative.

Saints are champions

The St Augustine’s College Big Red Machine captured two of the Bahamas Association of Independent Secondary Schools’ basketball championship titles. The other two went to the Kingsway Academy Saints and the Queen’s College Comets.

VAT alternatives 'don't generate revenue we need'

The private sector’s proposed Value-Added Tax (VAT) alternatives will not generate “the revenues we need” for a fiscal turnaround, a former finance minister argued yesterday, warning: “We’re running out of time.”

SEC case against Bahamian broker 'among weakest'

A judge has given a significant boost to a Bahamian broker/dealer and its principal in their ongoing legal battle with US regulators, finding that a key element of the case against them was “weaker than any other” he had seen.

Broker elated over SEC fraud claim dismissal

A Bahamian broker/dealer and its principal were elated yesterday after a court threw out a US regulator’s claims that they knowingly helped perpetrate, and participated in, an $11 million securities fraud.

BNT targeting $32m over 'best kept secrets' plan

The Bahamas National Trust (BNT) is aiming to raise $32 million to finance its latest five-year plan, its executive director yesterday disclosing it planned to unlock this nation’s “best kept secrets” for tourists.

'Crazy' aviation taxes may cost tourism $20m

The Bahamas will “conservatively” lose $20 million in tourism revenues if it maintains the new and increased taxes on the private aviation sector, an industry expert yesterday slamming the Government’s policy as “crazy”.

Airlines threaten cut backs over tax rises

Airlines representing 90 per cent of US airlift into the Bahamas have warned they may cut their services due to the Budget’s tax increases, a move that will undermine the tourism industry and threaten plans for a 400,000 seat capacity increase.

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.

'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.

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.

Gov't gets 'F' for VAT implementation

The Government is losing the public relations battle over Value-Added Tax (VAT) through its “cloak and dagger” tactics, a leading businessman warning yesterday he had to believe the Nassau Institute study’s conclusions in the absence of other evidence.

Stocks to match 10% upside in '14

A top investment banker yesterday predicted that the Bahamian stock market will next year “at least” match the 10 per cent upside he anticipates for 2013, telling Tribune Business: “New Providence needs to get out of a hole.”

Companies fearing VAT 'cash flow nightmare'

Bahamian businesses yesterday expressed fears that Value-Added Tax (VAT) will cause “a cash flow nightmare”, warning that they would have to use “profits and working capital” to cover tax payments on sales they never receive.

Get ready for the final eight in Holiday Classic

Providence Basketball Club’s annual Holiday Classic tournament for senior boys basketball teams is growing by leaps and bounds as more Family Islanders are coming to town to stay active over the Christmas break.

Club owner in bid to jail Bimini developers

The owner of a beach club demolished by the Bimini Bay Resort’s developer has been given permission to apply to commit its principal, Gerardo Capo, and other executives to Fox Hill prison for alleged contempt of court.

Fear and loathing in the Bahamas

AN OFTEN overused term in political and legal spheres is that “justice must satisfy the appearance of justice”. Just as critical as the need for the courts to appear to be free from political impunity, the police must also appear to be fair and transparent in its administration of the law. Both play a critical role in maintaining law and order and in fostering respect for law and order - an interdependent cycle.

Gov’t pension liability ‘absolutely staggering’

The Government’s unfunded pension liabilities have been described as “absolutely staggering”, a well-known financial expert noting they are projected to exceed 50 per cent of current GDP by 2032 without urgent reform.

The Tribune

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