FNM touts success of govt. after favourable IMF report

NASSAU, BAHAMAS – After a recent review by the International Monetary Fund (IMF) commended the government for several key policy initiatives, the Free National Movement (FNM) said The Bahamas continues to earn positive reaction from the international community, who recognizes the concrete steps the government has taken to rebuild the economy. “We have worked hard […]

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Maynard: Shell is the answer to lowering power bills

Minnis says govt. will bring down cost of energy   NASSAU, BAHAMAS – Bahamas Electrical Workers Union (BEWU) President Paul Maynard said yesterday that he does not believe the cost of power in The Bahamas will be reduced in the near future without an intervention by Shell North America. Prime Minister Dr. Hubert Minnis assured […]

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PM on Chipman: ‘We speak with one voice’

Govt. to expand designated tax-free zones   Prime Minister Dr. Hubert Minnis said Wednesday night that while he and Centreville MP Reece Chipman have disagreed on certain government issues, the pair has a united goal and speak with “one voice” on when tackling poverty and improving Over-the-Hill communities. His statement came during a town hall […]

DPM tables bills to ensure Bahamas is not blacklisted

NASSAU, BAHAMAS – Deputy Prime Minister and Minister of Finance Peter Turnquest on Wednesday tabled a compendium of bills designed to keep the Bahamas off the European Union’s blacklist. Turnquest said this action brings the Bahamas in full compliance with the EU’s tax standards and will hopefully ensure the Bahamas remains off the blacklist when […]

November power bills don’t reflect steep drop in oil prices

Between 4,000 and 6,000 customers off the grid   NASSAU, BAHAMAS – While global crude oil prices have decreased by more than 30 per cent in the last month, Bahamas Power and Light’s (BPL) 93,000 residential customers are not likely see that decrease reflected on their power bills for several months. As numerous BPL customers […]

Cooper: “Notify customers before seizing money”

NASSAU, BAHAMAS – Notice should be given to customers before the government embarks on seizing money from dormant bank accounts, an opposition member of parliament suggested in the House of Assembly Wednesday. “This Bill should require the bank to contact the customer via their last known address or even [print ] a public notice to […]

Bahamas Govt. and Govt. of Japan exchange diplomatic notes

During a courtesy call on November 12 in Tokyo, Japan the Government of The Bahamas and the Government of Japan exchanged diplomatic notes relating to the Protocol to amend the Tax Information Exchange Agreement between the Government of The Bahamas and the Government of Japan for the Exchange of Information for the purpose of the […]

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 […]

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. […]

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. […]