Local Business


‘Hardship’ threat over VAT medical bill move

The Government is threatening to cause “additional hardship” for thousands of Bahamians who enjoy private medical insurance through VAT-related reforms that will increase medical bills and treatment costs.

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Don’t allow COVID apathy to ‘strangle economic rebound’

A top hotelier yesterday warned The Bahamas “must not allow apathy” to undermine the COVID fight, while admitting the surge in cases will make the Government “more tentative” over the further restriction easing sought by tourism.

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‘Buy good real estate but a cheap vehicle’

Suggestions that today’s Budget will seek to “promote home ownership” and green energy yesterday generated calls for an attitude overhaul and a variety of tax reforms from participants in both sectors.

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Bahamas ‘can’t be complacent’ on 15% corporate tax push back

The Bahamas “cannot be complacent” despite yesterday being granted more time to determine its approach to the G-7/OECD-led push for a minimum 15 percent global corporate income tax rate.

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FNM and unions unite on $4m ‘overpayment’

A Cabinet minister’s assertion that the Government’s finance officers awarded themselves a $4m pay rise without any Cabinet or other approvals yesterday united the FNM and trade unions in opposition.

Minister says tax hikes an ‘absolute last resort’

A Cabinet minister yesterday reiterated that new and/or increased taxes are an “absolute last resort” given that they will undermine The Bahamas’ post-COVID recovery, again pledging that they will not feature in today’s Budget.

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HUBERT EDWARDS: Today’s Budget for a better tomorrow

We previously considered The Bahamas’ debt sustainability, and looked at the challenges faced from a Caribbean context.

NIB to boost prosecution of delinquent employers

A Cabinet minister yesterday said the National Insurance Board (NIB) plans to prosecute more delinquent employers, and recover all contribution income due to it, amid projections that its $1.6bn reserve fund will be exhausted by 2028.

‘No difficulties’ with South Ocean area casino licence

The deputy prime minster yesterday said a casino licence for the South Ocean area will have “no difficulties” in receiving approval from the Gaming Board (GB).

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Bahamas urged: ‘Go back into the tourism business’

A prominent architect is arguing that The Bahamas must “go back into the tourism business for itself” to reverse the “dramatic drop” in its competitiveness versus faster-growing rival Caribbean destinations.

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Abaco Chamber chief: ‘We’re in a scary time’

Abaco’s Chamber of Commerce president yesterday said The Bahamas and whole world are entering “a pretty scary time”, adding that the island was “just waiting for the other shoe to drop” when it came to further price hikes.

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Accountant ‘surprised’ if any Budget tax hike

A Bahamian accountant yesterday said he would “definitely be surprised” if the Government introduced new and/or increased taxes in tomorrow’s Budget given that it would only worsen the cost of living crisis for vulnerable Bahamians.

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BISX-listed Fund eyes restart for dividends after 15-year gap

The BISX-listed Bahamas Property Fund’s Board will within the next month receive a recommendation to resume investor dividend payments after a 15-year hiatus following completion of its $8m preference share financing.

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‘NO WAY’ TO PAY BILLS WITHOUT NEW TAXES: Reformer says Budget is most important in history of The Bahamas

A governance reformer yesterday said he was “confident” some tax increases will be unveiled in tomorrow’s Budget, which he branded as the “most important” in Bahamian history to-date.

Private pilots: ‘Trust but verify on show stopper’

Private pilots plan to “trust but verify” pledges by Customs to ease clearance reforms that some argue could cost this nation up to 25 percent of its existing business if implemented in their original form.