NASSAU, BAHAMAS — The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has expressed its disappointment in the government, citing a “continued lack of good faith” in failing to engage in proper consultation with the business community.
In a statement yesterday BCCEC chairperson Khrystle Rutherford-Ferguson said the business community remains “hamstrung” by uncertainty, noting that the various measures, amendments, and policy shifts recently proposed by the government will bring about extensive changes in business operations within The Bahamas when they come into effect on July 1.

“It is regrettable that these policy shifts are increasingly announced without adequate prior consultation or with insufficient details and advanced notice to facilitate meaningful engagement with the business community,” Rutherford-Ferguson stated.
“Such an approach hinders the correction of any evident missteps and impedes smooth implementation.”
Rutherford-Ferguson referenced the recently announced reduction of the time allotted for large businesses to submit VAT returns from 21 days to 14 days, without the possibility of an extension—a proposal she noted that BCCEC members vehemently reject as unworkable.
She noted that during the Budget Debate, a series of Bills were presented in the House of Assembly, bypassing the consultation process.
“As we have stated in the past, we continue to be available to meet with the Government and despite recent talks, these proposed changes were not disclosed,” she said.
“In the brief time that we have had to consult our members post the announcement, a number of concerns have been voiced about the ability of businesses to meet this target. Further, there are concerns that the target continues to move arbitrarily regarding VAT filings. The short timeframe for implementation also fails to take into consideration the attendant costs of compliance with such a change.”
The BCCEC chairperson expressed fears about the changes increasing staffing and administrative costs.
Rutherford-Ferguson noted: “The Government continues to overlook the tremendous wealth of experience and knowledge available within the BCCEC and our membership. By engaging in proper consultation and fostering collaboration between the public and private sectors, we can maximize the benefits of economic recovery while minimizing disruption to our critical business sector.
“Unfortunately, we are currently hampered by uncertainty and insecurity caused by the lack of timely and meaningful consultation on policies.”
She added: “We trust that the Government will reconsider its approach to several imminent policies that will undoubtedly have a significantly negative impact on business operations and resource allocation.
“A successful economy is built upon a thriving business community, and we hope that a Government determined to succeed will take our interventions into account.”