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Procurement chief pledges greater reporting frequency
The Government’s chief procurement official yesterday disclosed that the frequency of contract award reporting will ultimately increase to every 60 days, adding that full compliance is “going to take some time”.
Port’s profits double on 3,000 TEU jump
The Arawak Cay port operator yesterday said a 3,124 year-over-year increase in container volumes resulted in its half-year profits more than doubling, as Hurricane Matthew repairs and Baha Mar’s re-start resulted in import activity surging.
Dealer: Sales 'up 30-40%overnight' if tax change
A new car dealer yesterday told Tribune Business that his sales would “go up 30-40 per cent overnight” if the Government would revert back to the industry’s old tax structure, adding that until that happened: “We’ll all be in trouble.”
Breezes owner calls for tourism 'export' status under VAT
SuperClubs Breezes owner has called on the Government to treat tourism as an export industry for Value-Added Tax (VAT) purposes, adding that Nassau and the Bahamas would “see a real uptick” in the economy by 2015.
STATESIDE: The changing faces of today’s America
THE government has announced that preparations are well underway for the next Bahamian national census. An estimated 119,000 households are due to be surveyed over the first three months of 2022. Ho-hum?
‘We want murder rate down to 85’
THE Minnis administration wants to reduce the number of murders to 85 by 2021 while reducing the average time it takes to get a business licence from 30 days to 24 hours.
Oil ‘majors’ in talks on Bahamas exploration
The Bahamas Petroleum Company (BPC) is in talks with “major” oil industry players over a $100 million joint venture partnership for its first $100 million exploratory well, and renewed its pledge to eventually offer shares to local investors via dual listing on BISX.
Budget must ‘show real fiscal discipline’
An outspoken businessman yesterday urged the Government to “demonstrate real fiscal discipline” in today’s Budget by showing the impact Value-Added Tax (VAT) revenues are having in reducing the fiscal deficit.
Moody’s downgrade branded ‘bittersweet’
Moody’s decision to slash the Bahamas’ sovereign credit rating, but maintain it at investment grade, was yesterday described as “bittersweet” by the Democratic National Alliance’s (DNA) leader.
Visitor 'leads' jump 40% for Family Islands duo
A senior tourism official says The Bahamas' digital marketing efforts have generated a 40 percent increase in visitor "leads" for Cat Island and San Salvador hotels this fiscal year.
Gov’t ‘adds insult to injury’ with medical VAT reforms
Health insurers have yet to meet the Prime Minister over VAT reforms that threaten to increase medical bills and healthcare costs, with the Government yesterday accused of “adding insult to injury” for thousands of Bahamians.
Total $1.4bn SOE debts pose ‘a significant risk’
Total debts owed by the Government’s state-owned enterprises (SOEs) have hit $1.4bn to become “a significant risk” by exceeding 10 percent of annual economic output, the IDB has warned.
Govt 'on hook' for $50m Matthew VAT refund bill
The Government could be “on the hook” for a $50 million-plus Value-Added Tax (VAT) refund bill as a result of Hurricane Matthew insurance claims, an industry executive said yesterday.Anton Saunders, RoyalStar Assurance’s managing director, estimated
‘No political party is committed’ to cutting Govt size
Shrinking the size of government will be extremely hard to achieve in the Bahamas, a well-known businessman believes, because “no political party is committed to it as a philosophy”.
‘Vulnerable on several fronts’ to coronavirus
A Bahamian risk management specialist yesterday warned that this nation is “vulnerable on a few fronts” to the coronavirus outbreak, adding: “This is a storm of its own before hurricane season.”
Tourism providers find re-opening tough going
Several tour, attraction and excursion providers say they are struggling to understand and implement the necessary COVID-19 protocols after the Prime Minister yesterday gave the go-ahead for their July 13 re-opening. Peter Rebmann,Pearl Island’s man
Civil service salaries in $53m 'over-budget'
The government’s wage bill for the 2017-2018 fiscal year was over-budgeted by $53m because of non-existent persons on its payroll, the deputy prime minister revealed yesterday.
BISX inks 'world class' digital exchange boost
The Bahamas International Securities Exchange’s (BISX) goal of becoming a “world class” digital trading player has received a major boost after it secured a partner to launch a new exchange.
Gov't targets 15% VAT from July 1, 2014
THE Government is proposing to implement a Value Added Tax (VAT) on July 1, 2014, at a rate of 15 per cent, the Minister of State for Finance said yesterday, adding that the hotel industry would be subject to a lower 10 per cent rate.
'How can we be ready for VAT if you're not?'
THE Government’s “administrative readiness” for the proposed July 1 Value-Added Tax (VAT) implementation remains a “huge concern”, a Tax Coalition co-chair yesterday asking: “How are we to be ready if you are not ready on the other side?”
