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Grand Bahama 'the gun capital of The Bahamas'

GRAND Bahama, in addition to be being the industrial capital, is being called “the gun capital” of The Bahamas in terms of firearm violence and shootings in the country, Health Minister Dr Duane Sands revealed in the House of Assembly yesterday.Dr S

Bahamas Volleyball team a mixture of youth and experience

EVEN though it’s a very young team selected, the Bahamas Volleyball Federation and its women’s national volleyball team are hoping to make their presence felt when they travel to Suriname to participate in the CAZOVA Senior Championships.

D’Aguilar: We will be flexible

TOURISM and Aviation Minister Dionisio D’Aguilar said the government will be flexible with web shop taxes, adjusting its new sliding scale scheme if it proves too onerous.

Second home 'havoc' on triple-digit tax rise

The Government was yesterday warned it “will create havoc” if it imposes triple-digit tax increases on hundreds of foreign second home owners via planned real property tax reforms.Attorneys and realtors united in “outrage” over a seemingly innocuous

Web shop staff call for boycott

WEB shop employees yesterday suggested a boycott of businesses or economic interests of Cabinet ministers as operators pledge to take their fight against an impending tax increase on their sector all the way to the Privy Council.

Oil explorer targeting 'window of opportunity'

An oil explorer is aiming to seize “the current window of opportunity” to drill its first Bahamas well after five years of regulatory and oil price-related delays “abated”.Simon Potter, Bahamas Petroleum Company’s (BPC) chief executive, told sharehol

'Huge' home price out from vat restructuring

A “huge” number of Bahamians will be priced out of home ownership by the budget, a prominent developer warned yesterday, revealing the cost of a popular housing model will rise $23,000.Franon Wilson, Arawak Homes president, told Tribune Business that

‘At least’ 25% of VAT hike not new monies

The Bahamas’ chief WTO negotiator yesterday warned that “at least” 25 percent of the extra VAT revenue is “replacement” income rather than new money.

Web shops urged to withhold due taxes

Web shops were yesterday urged to withhold all revenues currently due to the government, amid claims planned tax hikes were intended to wipe them out in favour of a national lottery.Philip Galanis, the former MP and senator, told Tribune Business he

Tax change threat to 'resilient' $928m FDI inflow's repeat

The Bahamas needs a repeat of last year’s “resilient” $928m foreign direct investment (FDI) inflow more than ever, but real estate’s new VAT treatment represents a potential obstacle.While a United Nations (UN) agency said 2017’s FDI flow dropped jus

Web shop industry: 2,000 jobs will be lost due to tax hikes

The web shop industry yesterday warned that 2,000 jobs will be lost, and 75 per cent of its locations will close, if the Government follows through with aggressive triple-digit tax hikes.

Breadbasket items list to include healthier goods

HEALTH Minister Dr Duane Sands has promised more healthy changes are on the horizon for the breadbasket list - after wide public consultation.Dr Sands underscored the Minnis administration’s commitment to fully vetting proposed changes, adding they w

Developer: 'Millions on the line' through VAT structure alter

A prominent Bahamian developer yesterday warned “millions of dollars are on the line” through budget tax changes that make it “impossible” for real estate projects to claim back VAT.Jason Kinsale, president of Aristo Development, told Tribune Busines

Amateur golfers win championship titles

RICHARD Gibson Jr successfully defended his title and once again emerged as the Bahamas Golf Federation’s national amateur male champion in the Royal Fidelity National Amateur Championships recently held over a four-day period.The new female champion

$360m arrears 'dive in' not in national interest

The government’s rush to pay-off its $360m arrears is “not in The Bahamas’ best interest”, a former finance minister yesterday warning of the VAT hike: “The timing couldn’t be worse.”James Smith, who held the post from 2002-2007, told Tribune Busines

Hotels 'push' on VAT amid 39% revenue growth

The 39 per cent increase in 2018 first quarter room revenues illustrates what was at stake when the hotel industry yesterday met the Government over its planned VAT hike.The Central Bank of The Bahamas’ monthly report for April, released last night,

Sands: No escape on fiscal 'come to Jesus'

The Bahamas would not have escaped its fiscal “come to Jesus moment” even if the Christie administration had been prudent with its VAT windfall, a Cabinet Minister argued yesterday.Dr Duane Sands, pictured, minister of health, told Tribune Business t

Surplus bank funds breach $2bn barrier

Bahamian commercial banks had more than $2bn in funds they were unable to find qualified borrowers for at end-April 2018, it was revealed yesterday.The Central Bank of The Bahamas’ monthly report for the month, published yesterday, disclosed that exc

Breadbasket's VAT 'zero rating' brings retail relief

Government ministers and officials yesterday brought relief to food retailers by confirming that the budget’s “breadbasket” items will be treated as “zero-rated” for VAT purposes.However, their property and casualty insurance counterparts were not so

Minor league baseball: Young and Lugnuts get wins over Isaacs and Captains

IT was a busy weekend for Bahamian minor league baseball players in the Class A Midwestern League.

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