thebahamasweekly.com - GBPA to host VAT Readiness Training Seminar

From:TheBahamasWeekly.com

Grand Bahama
GBPA to host VAT Readiness Training Seminar
By The Grand Bahama Port Authority
Oct 2, 2014 - 9:26:31 AM

Freeport, Grand Bahama- As concerns regarding the impending implementation of Value-Added Tax (VAT) slated for January 1, 2015 continues to rise, business owners in the Freeport community will have an opportunity to arm themselves with the necessary knowledge to face the upcoming means of tax reform.

Executives of The Grand Bahama Port Authority, Limited (GBPA) have confirmed the dates for VAT Readiness Training sessions for licencees, an initiative recently announced by the company. Sessions will commence on Tuesday, October 14th and continue thru Friday, October 17th, at the Pelican Bay Resort from 9am-4:30 daily.

Attendees will receive valuable information and training from members of the VAT Unit regarding a myriad of topics linked to the implementation of VAT. Representatives from Bahabeach Web/IT Development will also be in attendance to shed light on the technological book keeping aspect of VAT and its integration with Quickbooks.

The four day undertaking, which seeks to target businesses by sectors, was described by GBPA president Ian Rolle, as a means to moving forward. “We know that the proposed implementation date of VAT is January 1st, and we are aware of the stir that has occurred amongst our licencees, as a result of VAT. While there are still some areas of concern, it is more important that we prepare. This series of sessions is provided so that licencees have the information and direction they need to begin adapting to the changes that VAT will bring for the various business owners in Freeport,” he said.

GBPA Business Development Manager Derek Newbold also weighed in on the fast approaching endeavor noting the importance of educating the company’s licencees.

“It is extremely important to us that our licencees are equipped and prepared for the implementation of VAT. The Invest Grand Bahama Business Unit, through its small business bureau, is extremely pleased to help our licencees during their transition process to becoming VAT compliant,” he said.

“The planned workshops will be informative and interactive, and we believe that all participants will find exceptional value in this undertaking by The Grand Bahama Port Authority,” Newbold added.

For further information, persons may contact the Invest Grand Bahama Small Business Bureau at 350.9061 or 350.9305.