From:TheBahamasWeekly.com
The island of Grand Bahama gets its own Ministry
By Llonella Gilbert
May 31, 2012 - 1:56:15 PM
NASSAU, The Bahamas --
During his presentation of the 2012/2013 Budget Communication, Prime Minister
the Rt. Hon. Perry Gladstone Christie said the government has created the
Ministry for Grand Bahama to address that island’s needs.
The Prime Minister
said the mandate of that ministry is to ensure Grand Bahama receives the
maximum benefits from all government initiatives.
He explained that it
was set up specifically because the economic plight of Grand Bahama is
painfully evident and the unemployment situation there clearly attests to that
reality.
Prime Minister
Christie said the Ministry for Grand Bahama will also develop proposals for the
extension of duty-free concessions to East and West Grand Bahama.
“The Minister for
Grand Bahama will engage in wide-ranging discussions with the various
stakeholders in Grand Bahama, as well as with other government ministries to
advance our priority of restoring the economy of Grand Bahama.”
He added, “This will
entail an evolving process as we go forward and the ministry’s organization and
budget allocation will evolve and grow accordingly.”
The Prime Minister
stressed that in this Budget, the government is immediately implementing
certain tax measures to promote the revitalization of Grand Bahama.
“For existing
properties in Grand Bahama, the hotel occupancy tax is being reduced by 50 per
cent for five years for all properties filing returns under the
newly-introduced electronic reporting system.
“And, to assist in
ensuring the success of new hotels, the hotel occupancy tax will likewise be
reduced by 50 per cent for 10 years after opening.”
Prime Minister
Christie said to access these concessions, it will be necessary for a hotel to
register online with the new electronic reporting system, as is required of all
hotels in the country.
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