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Exemption elimination saves Super Value $7m
Super Value’s owner yesterday confirmed the decision to ‘exempt’ no goods from Value-Added Tax (VAT) would save his company $5-$7 million in extra costs per annum, with the sector’s “biggest objection” to the new tax now removed.
$60m Hilton sale 'win-win for all'
The British Colonial Hilton was sold for a sum “in the ball park of $60 million”, Tribune Business was told, as its outgoing chairman described the deal as “a win-win for everyone”.
Gov’t ‘definitely’ beat first $150m VAT goal
Value-Added Tax (VAT) “definitely” generated more than the $150 million net revenue increase targeted for the 2015 first half, a top official yesterday revealing that June’s compliance rates matched those for the first quarter.
Just one SOE ‘can throw everything’
The Government yesterday unveiled policies to govern a near-$800m portfolio of loans and guarantees to state-owned entities, a senior official saying: “One transaction could throw everything awry.”
Food prices to ‘never return to pre-COVID’
The Retail Grocers Association’s president yesterday warned Bahamians that food prices will not return to pre-COVID levels and said: “The cost of operations is increasing all over the world.”
‘Highly probable’ most of $900m tax debts seized
The Ministry of Finance’s top official yesterday said the Large Taxpayer Unit is “just the start” of major reforms as he revealed it is “highly probable” much of $900m in past due taxes will be collected.
Bank fee moans? It’s your ‘own damn fault’
The Central Bank’s top inspector yesterday said he had little sympathy for those complaining about bank fees since it was their “own damn fault if they are too lazy to switch” to online banking.
WSC Management Union 'clarifies statements' about low morale
THE WATER and Sewerage Management Union yesterday denied the characterization of low staff morale at the corporation and expressed support for the government’s mandate and its executive management.
One death and 35 cases over holiday
COVID-19 cases have continued to steadily trickle in each day with Ministry of Health officials recording 315 new cases this month.
RBDF promotions approved ‘soon’
ROYAL Bahamas Defence Force Commodore Raymond King said promotions for the organisation should be approved soon.
Tourism ‘wrench’ fears over US govt closure
A Cabinet minister yesterday voiced concerns that the partial US government shutdown may “throw a wrench” in expectations for a first quarter surge in stopover visitor arrivals.
Exuma resort hosts athlete fundraiser
Top Canadian athletes will celebrate the winter Olympics at Exuma’s Grand Isle Resort & Spa in a bid to raise money for their fellow sportsmen.
'I've never seen it like this before'
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net Bahamas-based used car dealers have seen a significant drop off in business year-over-year, with one telling Tribune Business: "I've never see
Prince Philip, husband of Queen Elizabeth II, dies aged 99
LONDON (AP) — Buckingham Palace officials say Prince Philip, the husband of Queen Elizabeth II, has died. He was 99.
BTC chief projecting 30% mobile share loss
The Bahamas Telecommunications Company’s (BTC) chief executive yesterday said the industry “rule of thumb” is that the second Bahamian mobile operator will seize 30 per cent of its market share.
Insurer 'praying' Abaco 90% paid in six months
A top Bahamian insurer was yesterday “praying” that 90 percent of Abaco’s Dorian-related claims will be paid out within the next six months given the scale of the island’s devastation. Anton Saunders, RoyalStar Assurance’s managing director, told Tr
Willis Mackey Jr scores 20 points in 20 minutes
FOLLOWING a nearly three month hiatus, Willis Mackey Jr and his JSA Bordeaux Métropole Basket of France’s Nationale Masculine 1 (NM1) League returned to the court to continue their season.
‘Actions on Family Islands must stop’
ATTORNEY Fred Smith yesterday warned the government that it was treading on the “thin ice of contempt” for pressing ahead with efforts to eradicate shanty towns in the Family Islands despite the pending judicial review.
Cutting 1,000 companies to maximise VAT revenues
A top accountant yesterday backed the Government’s plans to slash mandatory Value-Added Tax (VAT) registrants by 1,000 firms, telling Tribune Business this would help to “maximize” revenues from the new tax.
Union busting claim in GB
FREEPORT – The Commonwealth Electrical Workers Union is accusing the Grand Bahama Power Company of union busting and not engaging in good labour relations.
