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Bahamian auto dealers yesterday expressed hope that proposed Road Traffic Department reforms will ultimately result in a vehicle titling system, one telling Tribune Business its creation was “past desperation point”.
The Government was yesterday warned it has one month to inform auto dealers about whether the industry’s Excise Tax rates will be lowered to compensate for Value-Added Tax (VAT), otherwise it may see revenue generated by the sector drop-off in the New Year.
Rival Bahamian-led bids with strong Andros connections are battling to acquire the last government-owned hotel, Tribune Business can reveal, with at least one proposal focusing on eco-tourism. Prescott Smith, owner of Stafford Creek Lodge, confirmed to Tribune Business that he was heading one group seeking to buy the Fresh Creek-based Lighthouse Club from the Government-owned Hotel Corporation of the Bahamas.
By NEIL HARTNELL
By NEIL HARTNELL
By NEIL HARTNELL
By NATARIO McKENZIE
By NEIL HARTNELL
Sands Beer’s manufacturer yesterday said its planned $15 million growth strategy, which could more than double its workforce via the creation of “over 100” jobs in the next five-10 years, depends on the Government maintaining the ‘tax advantage’ it holds over its BISX-listed rival.
The Government’s decision not to allow permanent residents and work permit holders to gamble in Bahamian casinos is a “miniscule” issue that will not delay much-needed reform, a tourism industry executive said yesterday.
The Government’s planned switch to an accrual financial reporting system has been praised as “fantastic”, a leading accountant arguing it will boost accountability and improve Budget planning.
Prime Minister Perry Christie has been warned that “the clock is ticking” on the private sector’s Value-Added Tax (VAT) readiness, a Tax Coalition co-chair yesterday calling for the revised legislation and regulations to be published “as soon as possible”.
Web shop operators were yesterday said to be “very concerned” over the uncertainty and lack of any guarantees surrounding the industry’s impending legalisation.
The Trade Union Congress’s (TUC) president yesterday backed a 100-133 per cent increase in the Bahamas’ minimum wage, describing this as “reasonable”.
The Bahamas has been urged to “embrace a new era in financial services” by launching an Investor Citizen programme, a leading accountant describing this as essential if the country is to remain a “player” in the industry.
A trade union leader said yesterday that “the jury is still out” on whether the Government’s recent union-saving had truly “cured the mischief”, as one attorney confirmed he had filed for a Judicial Review over the issue.
Pension plan administrators yesterday said they had seen a 100 per cent increase in employer inquiries over the past 12 months, describing the surge as “significant” given existing low participation levels.
The Government was yesterday urged not to reward two decades of alleged law-breaking by approving Peter Nygard’s new development applications, a well-known QC suggesting he had seized land worth $35 million without permission.
The Government’s recent 12 union-saving legislation helped produce what one labour executive yesterday described as a “win-win” in the Court of Appeal, with a Harbour Island resort and its opposition both achieving their main objectives.
The Bahamas International Securities Exchange (BISX) has “consistently” found evidence to support its method for calculating share prices, with most companies’ stocks never moving more than 5 per cent from the previous day’s close.
By NEIL HARTNELL
By NEIL HARTNELL
By NATARIO MCKENZIE Tribune Business Reporter
By NEIL HARTNELL
Bahamian realtors yesterday called upon the Government to pass laws regulating appraisal management companies, with the push by the Canadian-owned banks to foist such a system on the industry branded “a huge game changer”.