While A Sure Win has shut down five of its stores in the family islands, the company’s management team expects to close an additional six locations nationwide before the end of the month.
The announcement, which will leave 50 plus persons unemployed, has sent Bahamians into a frenzy.
Locals are calling the surprise move by the government to increase taxes levied on the gaming sector akin to that of a dictatorship, rather than a democracy.
Eyewitness News spoke to several residents, who called the government’s decision “hasty”, as the fast-approaching July 1 deadline for the webshop tax hike to come in to effect, leaves no room for Bahamians to prepare, while companies are already considering downsizing.
A Sure Win released a statement earlier this week noting that the company was forced to take a “sobering review” at its company’s operations, to identify locations that were not performing at its highest.
Consultants for the industry estimate the new taxes for webshop owners could lead to 69 stores closing down, which in turn, could see some 700 employees displaced.