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Insurers 'over reacting' on 50% investment 'minimum'

The Ministry of Finance's top official yesterday said insurers are "over reacting" to the consultation on holding a "minimum" 50 percent of their investments in government securities as he refuted fears it is "desperate for funds".

$6m 'breathing room' no long-term gas solution

Bahamian petroleum dealers yesterday argued that '"a short-term injection doesn't alleviate the problem" of fixed margins after a Cabinet minister disclosed the Government provided $6m in "relief" to the industry last year.

Gov't is 'upping efforts' on $461m tax arrears

A Cabinet minister yesterday asserted that the Government is "upping our efforts" to collect a combined $461m in outstanding real property taxes owed by delinquent foreigners and businesses.

Joining WTO is not a Bahamas priority

A Cabinet minister yesterday reaffirmed that becoming a full World Trade Organisation (WTO) member is not a priority for The Bahamas at present although such a move is "not off the table."

Judge: 'Now clear' Baha Mar sabotaged by CCA

Sarkis Izmirlian yesterday secured a major legal victory after a New York judge ruled "it is now clear" that China Construction America (CCA) sabotaged Baha Mar's completion and orchestrated the developer's removal.

Trade Policy aims to break export barriers

A Cabinet minister yesterday asserted that the newly-launched National Trade Policy will play a key role in helping to diversify the Bahamian economy through the creative industries plus sectors such as agriculture and fisheries.

'Significant regulatory reform' need on corporate income tax

The Attorney General yesterday acknowledged that corporate income tax is a "novel approach" for The Bahamas and will require "significant regulatory reform" to implement if adopted.

STATESIDE: Could Republican’s Tim Scott be the party’s next Ronald Reagan?

THE Democratic party in the US has in recent years become the subject of much criticism for presuming the perpetual support of black communities. To many observers in America, the Democrats have overlooked changes in the African-American demographic that could presage some surprising electoral results down the road.

Ex-MP says: 'Gov't supporters trying to get hands on GBPA'

A former MP yesterday doubled down on concerns that "supporters of the governing party have been trying to get their hands on the Grand Bahama Port Authority" amid push back to calls for politics to be kept out of Freeport's future.

Gov't digs in for 25% mining profits share

Legislation that will create a new regulatory regime for mineral mining and exploration, and features a "minimum" 25 percent profit sharing with the Government, was tabled in the House of Assembly yesterday.

Corporate income tax is 'wrong way around'

The Opposition's finance spokesman yesterday argued that The Bahamas has corporate income tax "the wrong way around" because the proposed reform options are forecast to suck "more money" from the private sector via taxation.

Insurer uproar on Gov'ts 50% investment 'dictate'

Bahamian insurers yesterday blasted the Davis administration for seeking to "dictate" their investment strategy by mandating that a "minimum" 50 percent of their total portfolio be held in government securities.

PM says dealers 'impacting themselves' with diesel halt

The Prime Minister yesterday said his "technical team" is working on a resolution to the petroleum dealers' margin increase demands as many continued the halt to diesel sales for a third day.

Legal reforms set to ban pyramid selling schemes

The Prime Minister yesterday unveiled plans to strengthen protections for Bahamian consumers through legal reforms that will ban "pyramid selling schemes" and allow regulators to issue warning notices over "harmful business practices".

PM: We might as well get 15% corporate tax revenue

The Prime Minister yesterday extended the corporate income tax consultation period by almost two months to end-August 2023 as he reassured that the Government has not decided upon "any particular policy action".

Registered agents take on substance reporting burden

The Attorney General yesterday said financial services providers will have to do economic substance reporting for all entities where they act as the registered agent if The Bahamas is to escape Europe's 'blacklist' this year.

Sears says newly launched Traffic Management Centre first phase to cost $1.8m

THE Ministry of Works and Utilities launched the first phase of its Traffic Management Centre yesterday.

'Screeching economic halt' if diesel stop lasts 10-14 days

Bahamians could "see a totally different economy" if the decision by most petroleum dealers to halt diesel sales lasts for up to two weeks, a well-known contractor warned yesterday.

Corporate tax certainty 'vital' to Freeport future

Grand Bahama's Chamber of Commerce president yesterday said it was "vital" to business certainty and investor confidence that Freeport gain clarity on whether, and how, corporate tax will be implemented in the Port area.

Gas stations argue Business Licence 'further strangles' us

The Bahamas Petroleum Retailers Association's vice-president says he backs the introduction of a corporate income tax to replace Business Licence fees that "further strangle us".

The Tribune

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