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HUBERT EDWARDS: Bahamas can’t afford for fiscal forecast miss

The Davis administration has delivered a Budget which, while leaving room for discussion and debate on many fronts, gives numbers which are very positive and welcoming news from a fiscal and debt management perspective. The projections suggest that The Bahamas is on the path to a turnaround in its fortunes, providing international and domestic investors with a level of certainty that would not have been anticipated two years ago. But every aspect of this turns on what the final outturn of the 2022-23 fiscal year will be.

Cruise ship passenger accused

A Virginia man has been charged with abusive sexual contact after an incident with a nine-year-old girl on a Carnival cruise ship that visited The Bahamas.

WIN OR GO HOME: Flag football quarterfinals heat up

THE Bahamas Flag Football League (BFFL) playoffs got underway this past weekend at the Winton Rugby Field.

Key tax arrears jump $230m to hit $1.13bn

Tax arrears owed to the Government from three key revenue streams increased by a collective $230m during the first nine months of the current fiscal year to hit $1.13bn at end-March 2023.

20% of Gov'ts fixed costs go to debt bill

One out of every $5 spent by the Government on its recurrent costs during the upcoming 2023-2024 fiscal year will go towards paying the $612.726m interest bill on its outstanding $11bn-plus national debt.

Property tax cap up 25% to hit $150,000

Bahamian realtors have given a mixed reaction to the Government's decision to increase the annual real property tax cap by 25 percent to $150,000.

Pintard says PM misled on budget taxes claim

FREE National Movement Leader Michael Pintard accused Prime Minister Philip “Brave” Davis of misleading Parliament, saying bills tabled last week show that the government is raising taxes.

Anthonique clocks season’s best 10.99 in 100m

Anthonique Strachan continues to display her consistent level of success in leading a field of Bahamians competing on Saturday at the Racers Grand Prix in Kingston, Jamaica.

PM promises 50 metre pool for Grand Bahama

LOOK for the construction of a new 50-metre pool in Grand Bahama and the development of various facilities throughout the Family Islands during this fiscal year of the Progressive Liberal Party’s tenure in office.

Bahamas Bowl returns December 16

THE ninth edition of the 2023 HomeTown Lenders Bahamas Bowl will return to Bahamian soil on Saturday, December 16. The event is set to kick off at the Thomas A Robinson National Stadium at 11am to commence the start of the National Collegiate Athletic Association (NCAA) Football bowl season.

Ministry reveals revisions to High School Diploma

AFTER longstanding public outcry on the criteria of the Bahamas High School Diploma, the Ministry of Education announced on Friday several revisions that have been made.

Gov't near-tripling cruise departure tax to $145m

The Government is aiming to near-triple revenues earned from departing cruise passengers to $145m in the 2023-2024 Budget via a series of new and increased fees, it was revealed yesterday.

'Throwing darts': PM pledges 'decisive action' on Freeport

The Prime Minister's decision to put the Grand Bahama Port Authority's (GBPA) owners on notice that he plans to take "decisive action" to halt Freeport's two-decade decline yesterday provoked mixed reactions from residents and politicians.

Despite no new taxes, several new and adjusted fees announced

ALTHOUGH no new taxes will be introduced in the upcoming fiscal year, the Davis administration tabled bills in the House of Assembly yesterday that would increase fees for some services.

PM reveals 2023 budget with no new taxes, pledges to improve collections

PRIME Minister Philip “Brave” Davis said the government is arresting the national debt and reducing the deficit, unveiling a budget yesterday that aims to improve the country’s fiscal performance through better tax collection rather than introducing new taxes.

DEREK SMITH: How social responsibility is affecting financial institutions

In recent years, environmental, social and governance (ESG) factors have become increasingly important for financial institutions. The ESG approach goes beyond traditional financial metrics, instead focusing on sustainability, responsible investment and ethical practices. This article aims to explore two negative, and two positive, aspects of ESG and how it can impact financial institutions.

Prayers on the road to 50 years

Please allow me to express my observation on my experience during the Nation’s “Call To Prayer” during this “Road To 50” celebration.

Boating industry watches for VAT yacht charter ease

A former Association of Bahamas Marinas (ABM) president says the industry is "eagerly" waiting to see if the VAT on yacht charters is adjusted in today's Budget as he blamed its imposition for a 20 percent gross revenue fall at his business.

Corporate tax paper 'setting foundation' to broaden base

A prominent banker yesterday asserted it was no accident that the Government released its corporate income tax 'green paper' just days before the Budget, adding: "It needs to increase its revenue base."

The Budget Communication – as it happened

Prime Minister Davis says the Budget aims to strengthen national security, economic security and the lives of people of The Bahamas. He says the global economy is showing signs of improvement although there is still much work to be done to recover from recent challenges. He adds that average consumer prices rose in the US by eight percent, while policy rate of interest has been raised ten times, driven primarily by rising inflation. He highlights the effects on The Bahamas in terms of higher borrowing costs.

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