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Bahamas resisting US push to help OECD with taxes

The Government is pushing to remove a clause in the Bahamas’ draft Foreign Account Tax Compliance Act (FATCA) agreement with the US that would commit this nation to deepening its involvement with Europe and the OECD on tax information exchange.

Gov't: FATCA system bids peak at $63m

The Government yesterday said it has received bids costing up to $63 million for its Foreign Account Tax Compliance (FATCA) reporting system, which will process US client records from 2,000 financial services providers.

Over 130 attend BFSB's summit

More than 130 Bahamian and international financial services practitioners took part in the 11th annual International Business and Finance Summit (IBFS) at Sandals Emerald Bay in Exuma last weekend.


Bimini developer unveils casino training course

Resorts World Bimini yesterday announced the launch of a six-week Roulette training course for island residents, with selected graduates to be offered employment at its casino.
 The course, said to be one of several training programmes created by the developer, gives participants the opportunity to further their career in the casino industry.

'How can we be ready for VAT if you're not?'

THE Government’s “administrative readiness” for the proposed July 1 Value-Added Tax (VAT) implementation remains a “huge concern”, a Tax Coalition co-chair yesterday asking: “How are we to be ready if you are not ready on the other side?”

Royal Bank: No plans for Bahamian disposal

Royal Bank of Canada (RBC) yesterday said it had no plans to sell its Bahamian operations or those in any other Caribbean country, following its exit from Jamaica.

ART OF GRAPHIX: Breaking out the corporate identity

What is the difference between a business logo and brand? I find many people become a little muddled over this, which is not surprising given that some entrepreneurs do as well.

Union: Strike 'not best avenue' to end disputes

A trade union leader yesterday said Sandals Royal Bahamian employees had little choice but to take a strike vote, after the resort warned its actions could deter potential foreign direct investment (FDI) in this nation.

CWC demanded three-year cell monopoly extension

Cable & Wireless Communications (CWC) initially demanded a three-year extension to the Bahamas Telecommunications Company’s (BTC) existing cellular monopoly as the price for giving up majority ownership, Tribune Business was told yesterday.

Activists had 'arguable case' on Bimini dock

Environmental activists had an “arguable case” against the Government and Resorts World Bimini over the latter’s planned cruise ship terminal, a Supreme Court judge finding there were “serious issues to be tried” despite his refusal to grant an injunction.

Aviation seeks equal VAT treatment with land, sea transport

The Bahamian domestic aviation industry yesterday said it was seeking ‘equal treatment’ with other transportation sectors over Value-Added Tax (VAT), a senior figure fearing it would suffer “devastating” consequences if not ‘exempt’.

Tax Coalition moves to hire economist for VAT modelling

The Tax Coalition’s co-chair yesterday said it was the “slow release” of Value-Added Tax (VAT) details by the Government that had delayed public feedback, with the private sector body now poised to move on its own economic impact studies.

Gov't, Supreme Court urged: Alter approach over Judicial Review

A leading QC yesterday urged the Government and Supreme Court to change their approach to ‘public interest litigation’, calling on the latter in particular to not “apply hard-fought commercial principles” to all Judicial Review actions.

Airport unveils top employees

A computer and information technology (IT) expert, who earned the reputation of being the ‘go-to’ man at the Nassau Airport Development Company (NAD), has been named Employee of the Year for a record-setting second time.

Realtors examine Palm Cay progress

More than a dozen brokers, agents and staff members of Mario Carey Realty (MCR) have taken a first-hand look at Palm Cay, the fully-funded 70 acre community on New Providence’s southeastern shore.

Union: We can't help Scotiabank workers

THE BAHAMAS Financial Services Union (BFSU) said the latest round of potential commercial banking lay-offs showed the benefits of being unionised, as it could do nothing for Scotiabank workers.

How to overcome buyer objections

Most people really hate sales. Yet in many ways we are all salesmen, trying to sell a point of view, a product or a service. In fact, some professions have restrictions on how they can advertise their services, such as lawyers and doctors. Yet they still find a way to do exactly that, because everyone has to. But no matter if you use a hard sell or a soft sell, or any of the other methods out there, you are going to encounter the word ‘no’.

BREA members double despite recession

THE Bahamas Real Estate Association (BREA) has seen its membership “almost double” over the past seven years, its president yesterday saying it was “definitely working” to resolve recent appraisal management issues.

Albany invests $100m in 'Caribbean leader'

Albany is set to invest up to $100 million in a property that will be “the highest end product of its type in the Caribbean”, its managing partner yesterday saying its plans to create another Monaco were “not idle rhetoric”.

Multi-million copyright dispute nears resolution

The Bahamas was yesterday on the verge of resolving a second multi-million dollar copyright royalties dispute, a development that will “work to our benefit” on the accession to full World Trade Organisation (WTO) membership.

35 KFC terminations branded 'inhumane'

The Kentucky Fried Chicken (KFC) franchise holder was yesterday blasted for “inhumane” treatment of the 35 employees made redundant yesterday with the closure of its Village Road store.

'Lax' copyright enforcement no WTO obstacle

Concerns over the Bahamas’ intellectual property rights regime should “have not impact at all” on its progress to full World Trade Organisation (WTO) membership, despite the US government once again criticising it for “lax enforcement”.

Consumers warned: 'Be very concerned' over banks' appraisal plan

The appraisal management system being pushed by two Canadian-owned banks has “far reaching implications” that should make all Bahamian property owners “very concerned”, a well-known realtor warned yesterday.

Bahamas in 7m tourist target

TOURISM officials yesterday said they are hoping to attract a “routine arrival” of cruise ships to the southern Bahamas, as they bid to increase annual visitor numbers to a total of seven million.

Exuma's challenges main focus at Council meeting

Healthcare accessibility, a lean labour pool and the high cost of doing business were among the issues discussed last week at the inaugural Exuma Advisory Council meeting, held at the Grand Isle Resort & Spa.