The 2018 HOYTES (Helping Our Youth Through Education and Sports) Labour Day Basketball Classic in Freeport, Grand Bahama, is set to be an epic undertaking with an inordinate amount of teams entered to compete. There are 48 basketball squads that are registered to compete, emanating
Gaming house operators are staring down increased taxation as of July 1, after government announced a sliding scale system in its 2018/2019 budget yesterday that could see those businesses lose as much as 50 percent of their revenue. The Bahamas Gaming Operators Association (BGOA) did
Government has allocated $39 million of the 2018/2019 fiscal budget to a sinking fund, which will be used to pay off the $750 million bond issue it secured late last year.
The bond issue was secured in November to refinance and term out several U.S. dollar
Deputy Prime Minister and Minister of Finance Peter Turnquest revealed yesterday that 80 percent of the loans purchased by the government’s special purpose vehicle (SPV) Bahamas Resolve Limited from Bank of The Bahamas (BOB) are unrecoverable and therefore have to be written off.
Last year the
The government announced yesterday its intention to extend the business license fee rate of 0.75 percent to all hotels with ten rooms or more.
The rate is only currently applied to hotels with a turnover of $400 million.
During his presentation of the 2018/2019 budget in the
After a call from the insurance sector for government to remove value-added tax (VAT) from residential property insurance, Deputy Prime Minister and Minister of Finance Peter Turnquest revealed yesterday in the government’s 2018/2019 budget that it has not only complied with the request from the insurance
Deputy Prime Minister and Minister of Finance Peter Turnquest revealed yesterday that value-added tax (VAT) will increase from 7.5 percent to 12 percent effective July 1.
The increase in VAT is expected to bring in an additional $400 million in new revenue.
In his 2018/2019 budget communication, Turnquest
The official opposition yesterday expressed outrage over the announcement that value-added tax (VAT) will increase to 12 percent as of July 1.
“Today, ladies and gentleman, is a very sad day,” said Shadow Minister of Finance Chester Cooper at a press conference in the Minority Room
The government yesterday brought a resolution to the House of Assembly to borrow $187 million in the coming fiscal year.
Government debt is forecasted to increase from $7.1 billion to $7.3 billion. The government borrowed $1.4 billion in 2017/2018.
The GFS deficit for 2017/2018 is projected to be
The government intends to introduce the first phase of the Catastrophic Care Insurance Plan under National Health Insurance (NHI) in the upcoming fiscal year.
“In respect to protecting Bahamians from vulnerabilities, perhaps nothing can be so potentially devastating - personally, emotionally and financially – than having