Roberts: Barbados model could guide Bahamas’ sugary drink tax

NASSAU, BAHAMAS – While the National Health Insurance Authority (NHIA) has yet to determine the rate of the “sugary drinks tax” proposed for July 2019, NHIA Chairman Dr. Robin Roberts told Eyewitness News the authority will look to existing models in countries such as Barbados and the United Kingdom to help form its recommendations to […]

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Businesses granted duty waivers for apparel imports

The Ministry of Finance is inviting retail shoe and clothing merchants to take advantage of the customs duty waiver that is available to businesses to reduce the cost of importing goods. Since the policy was announced in July, with the start of the 2018/2019 budget year, the Ministry of Finance granted waivers to 154 applicants. […]

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BIA still seeking answers on NHI 2% tax

The  Bahamas Insurance Association (BIA) continues to question the proposed two per cent tax on salaries to fund the National Health Insurance Scheme expected to go into effect next year. Deputy Chairperson, Tina Cambridge said the potential of the program remains at a “wait and see stage” as there has been limited consultation with private insurers. […]

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Maynard: VAT exemption on electricity bill does very little

The government’s decision to temporarily increase the value-added tax (VAT) exemption for electricity bills will do very little on easing the burden of high electricity costs, according to President of The Bahamas Electrical Utility and Managerial Union (BEUMU) Paul Maynard. Prime Minister Dr. Hubert Minnis announced in Parliament Wednesday that government intends to temporarily raise […]

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PM says economy turning around

Prime Minister Dr. Hubert Minnis said the Bahamian economy is turning around economically. He also touted that job creation, strengthening the economy and improving the environment for businesses are top priorities of his administration. The prime minister’s comments came while officially opening the Securities Commission of The Bahamas Public Companies Forum at the British Colonial […]

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BPL: Electricity rates will not increase by 70%

Bahamas Power and Light (BPL) said it unequivocally denies the “erroneous” rumours of a 70 per cent increase in electricity rates. “We have no intention of increasing the price of electricity for the Bahamian people by 70 per cent,” outlined a statement released by BPL last night. “Further, BPL does not have the authority to […]

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Financial analyst gives holiday spending tips

With Christmas just six weeks away,  many persons are hoping to exchange gifts, renovate their homes, and simply indulge a little as they celebrate the season. And in an effort to ensure that the season is not only merry but also stress-free – especially after the festivities come to an end –  Financial Analyst Ava […]

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Predatory lending prevalent in The Bahamas

Described as modern day economic slavery, lending institutions with high-interest rates prey on the working class – many of whom are government employees with the ability to get salary deductions. Eyewitness News explores the issue as more and more Bahamians find themselves sinking into consumer debt.

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BIA takes issue with NHI premium

The Bahamas Insurance Association (BIA) is concerned that the proposed annual $1,000 National Health Insurance premium “is a gross underestimation of realistic premiums to cover the conditions which are common among Bahamians.” In the Policy Paper for the new NHI, the National Health Insurance Authority said the new program will provide comprehensive coverage for select […]

Turnquest: Blacklisting, watch listing causing disproportionate and unjustifiable harm

Having been placed on the United Kingdom’s watch list for money laundering, Minister of Finance K. Peter Turnquest stressed that the model of blacklisting and watch listing is causing disproportionate and unjustifiable harm, and it is time to create a better way for international cooperation. In fact, Turnquest said Governments in the region are not […]