Minister of Economic Affairs Michael Halkitis said yesterday that the intent behind an Insurance Commission of The Bahamas advisory was to gather information, as the government considers whether to take the advice of the International Monetary Fund (IMF) regarding a minimum holding of government securities. The advisory, which was published on May 19, stated that
The Free National Movement (FNM) is raising alarm over what it called the “flippant manner” in which the Davis administration has “haphazardly” announced multimillion-dollar projects and a billion-dollar facility. East Grand Bahama Member of Parliament Kwasi Thompson said Prime Minister Philip Davis’ announcement last week that the government intended to draw down $400 million from
Responding to criticism from the opposition over the government’s new requirement that all vacation rental property owners register with the Department of Inland Revenue (DIR), Minister of Economic Affairs Michael Halkitis said any taxes levied against Bahamians will be consistent with the current value-added tax (VAT) threshold of $100,000 revenue annually. East Grand Bahama Member
An aging plant, power outages, unavailability of replacement parts and a failed deal with a contractor are some of the issues contributing to the problems that have left Sweetings Cay residents with access to less than half their normal supply of water, according to officials. East Grand Bahama Member of Parliament Kwasi Thompson said the
The Ministry of Finance said yesterday that its new customs electronic data interchange (EDI) system – which allows customs brokers to electronically submit all their documents – seeks to reduce the more than $50 million in revenue leakage which occurs each year. In a statement, the ministry also said the two platforms that brokers and individuals importing