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News : Local Last Updated: Apr 15, 2014 - 2:46:20 PM
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News : Local
Bimini Sands Bahamas joins Guy Harvey Outpost Expedition Collection - Apr 15, 2014 - 2:43:59 PM

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South Bimini, Bahamas – Bimini Sands Resort & Marina on the Bahamas Gateway Island of Bimini is pleased to announce it has entered into a strategic marketing agreement with Guy Harvey Outpost. By joining the exclusive Guy Harvey Outpost Expedition Collection of independently owned and operated resorts, Bimini Sands can take advantage of the Outpost’s marketing, outfitting and online reservation system. In addition, Guy Harvey Outpost will have the opportunity to co-host fishing tournaments with Bimini Sands from its full-service marina, which offers the fastest access to world-class fishing waters of any marina on the island, along with oceanfront condos, two of Bimini’s most popular restaurants, a new infinity pool, Bimini’s top-rated dive operation and many other exciting activities.
News : Local
PM, Minister, Financial Secretary Agree: Payroll Tax Not a Viable Option - Apr 14, 2014 - 1:48:32 PM

Nassau, Bahamas - Bahamian workers would face grave reductions in take-home pay if a payroll tax were implemented instead of a Value Added Tax (VAT), the three leading government voices in financial affairs, including the Prime Minister, agreed.

“You would need a payroll tax of 20-25% to equal what a VAT of 15% would generate,” said Prime Minister Perry Christie.
News : Local
Suze Orman Seminar Coming to The Bahamas - Apr 13, 2014 - 1:01:24 PM

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Seventy-Seven Percent Of Bahamians Don’t Have Pension Plans

It’s a “frightening” statistic and one that financial experts at Colonial Pension Services (Bahamas) are hoping will not only lead to the enactment of pension legislation, but lure Bahamians to their upcoming seminar featuring personal finance guru, Suze Orman. The two-time Emmy Award winning television host, motivational speaker and New York Times bestselling author will be in The Bahamas to discuss retirement financing.

“It doesn’t matter where you are, at some point if you’re working you will retire and when you retire you’re still living, you still need money and if you don’t put that aside while you’re working you’re going to wind up in trouble...”
News : Local
CHEC Americas Engages Bahamian Engineering Firm on North Abaco Port Project - Apr 11, 2014 - 7:25:34 AM

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ABACO, Bahamas — Chinese Harbour Engineering Company (CHEC) has engaged the expertise of local Engineering firm Caribbean Coastal Services Ltd. (CCS) as the $39 million North Abaco Port project moves one step closer to ground breaking.

The Bahamian Engineering firm will review, comment, stamp and seal CHEC’s designs for the Abaco port to make sure all the drawings that are handed into the Ministry of Public Works will comply with all the local and relevant laws and codes.

Principal of CHEC Bahamas Felix Chang said support from CCS will enhance the award-winning international engineering firm’s ability to fulfill all the country requirements for this port development.
News : Local
Treasure Cay Environmental Damage ‘Irreparable, Heartbreaking,’ Abaco Chief Councilor Says - Apr 9, 2014 - 4:03:11 PM

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Abaco’s Chief Councilor today labelled as “heartbreaking” the destruction of acres of wetlands, slashed by heavy equipment on a site being developed under expansion plans by a resort known as Treasure Sands despite a cease and desist order by government.

“I don’t blame the developer,” says North Abaco Chief Councilor Gary Smith. “Nor do I blame the government in Nassau. The Minister of Finance for Investments Khaalis Rolle did the proper and honourable thing and we are very grateful to him for recognizing that protecting the environment and proceeding with the right permits is important for the long-term sustainable growth and development of any community.”
News : Local
Eleuthera Business Outlook Set For April 24 - Apr 8, 2014 - 4:19:42 PM

The second annual Eleuthera Business Outlook, the newest of the multi-island series, has been set for April 24 at Cape Eleuthera Resort and Marina, South Eleuthera with Prime Minister Perry Christie as keynoter speaking to the theme “Charting a Course for Growth in Eleuthera.”

“The theme for all our Business Outlook forums this year has been basically the same—a focus on stimulating economic growth after what seemed to be an entrenched recession, which slowed or put growth on hold in a number of areas,” said Joan Albury, President of TCL Group and chief organiser of the Business Outlook Series.

News : Local
Bahamas police find 4 burnt bodies on remote cay - Apr 7, 2014 - 7:31:07 PM

NASSAU, Bahamas — (AP) Police in the Bahamas say the badly burnt bodies of four people have been found on a remote southern cay of the sprawling archipelago.

The Royal Bahamas Defense Force said Sunday that the charred corpses of three men and one woman have been found on Anguilla Cay. The barren, uninhabited cay is relatively close to Cuba.

Lt. Commander Raymond King says tires appeared to have been set alight on top of the bodies.
News : Local
‘Back on Track’ Compensation Package for BTC Customers - Apr 3, 2014 - 9:09:48 PM

Nassau, Bahamas  - A gesture of compensation from BTC to their customers to apologize for the recent service disruption will get underway on April 5th for prepaid customers with a $5.00 credit and on April 6th for postpaid customers with a credit of a 100 on-net minutes. Additionally BTC has announced that on April 8th, a new ‘Text to Win’ promotion will begin where all BTC mobile customers have a chance to win a new 2014 KIA car from Sanpin Motors just by sending a text with the word “car” to #5007, as well as thousands of dollars in prizes including additional credit.

Jerome Sawyer Senior PR Manager said that the compensation value represents approximately five times the average daily consumption.

News : Local
Bahamas Maritime Pilots Assoc. on member resignations - Apr 2, 2014 - 9:42:59 PM

The Bahamas Maritime Pilots Association (BMPA) would like to make it clear that no clear resolution has been achieved in the negotiations for all of the BMPA Members resignations that took effect on Friday March 28, 2014 from both Buckeye Partners LP/BORCO and Freeport Harbour Company (FHC). Here is a layout of the situation at present:

1. All Sides involved want a safe and reasonable solution to this issue as soon as possible so that the interests of National Security, environement, safety and commerce are protected...
News : Local
(Video) Bahamas Marine Pilots Holds Emergency Conclave - Mar 14, 2014 - 2:11:13 AM

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Nassau, Bahamas -
The Bahamas Maritime Pilots Association (BMPA) invited All Maritime Industry Stakeholders to join to engage in a discussion in an Emergency Conclave: State of Pilotage & Safety in Freeport . The Bahamas Maritime Pilots Association (BMPA) addressed the issue of clarity on Marine Pilots in Freeport.  Invited were some of their partners from Pilot Associations worldwide with an intent to discuss Best Practices, International Maritime Organization (IMO) Standards, Insurance Requirements, and Safety and Training guidelines.

The conclave took place on March 10, 2014 at the Pelican Bay Hotel Convention Centre. S
pecial Guests included Nick Cutmore, Secretary General of the International Maritime Pilots Association (IMPA), and Captain Kurt Duncan, President of the Trinidad and Tobago Pilots Association.
News : Local
C.O.B. Speakers’ Corner Deepens Debate on VAT - Mar 12, 2014 - 1:57:12 PM

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Against a growing movement that urges restraint in the implementation of Value Added Tax (VAT) came a declaration from an intrepid businessman that the wealthy – including him – should be paying even more taxes and the tax burden should be shifted from the citizens who can least afford it to those who can.

Former Parliamentarian and President of the Source River Company Ltd. Tennyson Wells has called for a moderation to fears over the proposed implementation of VAT and for the country to embrace the change that must come instead
...
News : Local
“Ideal timing for VAT”, says expert tax consultant - Mar 12, 2014 - 1:54:29 PM

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A renowned tax specialist encouraged support of value added tax in The Bahamas, saying that this is “an opportune time to introduce a more efficient means of collecting revenue” before more extreme measures are taken.

Pauline Peters, head of Grenada’s VAT implementation unit, told educators, including Bahamas Union of Teachers representatives gathered at AF Adderley School Library recently, that VAT allows consumers to make choices about what to buy, choosing between exempt items like bread basket goods and non-exempt, an option that income tax does not offer.
News : Local
Protection for Consumers Will Increase Under VAT, Says Finance Official - Mar 7, 2014 - 3:29:31 PM

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Nassau, Bahamas -  Along with the establishment of The Central Revenue Agency (CRA) which will make the collection of taxes in The Bahamas more efficient, the government will be strengthening the Consumer Protection Department to ensure that the public will not be taken advantage of by businesses illegally collecting VAT from their customers, Ministry of Finance official Lucine Mingo told teachers at The Government High School recently.

The Bahamas has more than 30 departments and agencies collecting a variety of taxes and fees for the government. Mingo said that this has created a culture of poor communication between agencies resulting in the inefficient collection of government funds.
News : Local
Coalition Appointed, Oxford Economics Imminent Arrival Will Conduct Economic Forecasting, Modeling for Tax Recommendations - Mar 6, 2014 - 3:59:47 PM

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Nassau, Bahamas - In response to Prime Minister Perry Christie’s invitation to submit recommendations on viable alternatives to VAT, The Bahamas Chamber of Commerce & Employers Confederation’s (BCCEC) ‘Coalition for Responsible Taxation’ has commissioned Oxford Economics, one of the world’s foremost independent global advisory firms, to conduct economic forecasting and modeling. They arrive next week and following meetings with the Prime Minister and his finance team, will commence their studies for a final recommendation for government review and consideration.

Prime Minister Christie had stipulated that the Coalition's research must be conducted by persons with internationally acceptable credentials for the recommendations to have credibility and value.

News : Local
Ryan Pinder: “Development of Tax Policy in General and in the Bahamas” - Mar 5, 2014 - 12:29:58 PM

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On Thursday February 27th 2014, Hon. Ryan Pinder, Minister of Financial Services presented to the Revenue Law Class of University of West Indies LLB Program and Eugene Dupuch Law School “Development of Tax Policy in General and in the Bahamas."

Minister Pinder discussed with the students and faculty present the general principles of taxation, development of tax policy and the need for tax reform in The Bahamas. Sharing with the students his insight as a cabinet minister and a tax lawyer Minister Pinder addressed the implementation of Value Added Tax (VAT) and the proposed benefits.
News : Local
Domestic Travel to be Exempt From VAT - Mar 5, 2014 - 12:26:55 PM

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Value Added Tax (VAT) will not be charged on any form of domestic travel, State Finance Minister Michael Halkitis told residents of Killarney March 3.

Responding to questions during a Progressive Liberal Party branch association meeting at Casuarinas Hotel, Halkitis confirmed that travel by air, land and sea between islands will be totally exempt when the new tax regime comes into effect.

"The government has considered the domestic tourism market and understands how Bahamians love travelling to family islands," he said...      
News : Local
ScubaNation visits Deep Water Cay, Bahamas - Mar 1, 2014 - 9:41:02 PM

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Deep Water Cay, Grand Bahama – Willing to go to the deepest depths to make their guests happy, Deep Water Cay has added yet another dimension to their inventory of activities. Not only can guests enjoy world renowned bone fishing, deep sea fishing and water sports fun but now they can dive to their hearts content in some of GB’s lesser known dive sites.

Not one to dive into things lightly the marketing experts of DWC have gone head first into their newest attraction and have launched an aggressive campaign to promote their diving division. Last weekend both ScubaNation, a syndicated Florida based show and nationally syndicated Scuba Radio, spent time conducting interviews and filming on the cay with the island’s local expert, Philip Russell, and management and staff.

News : Local
Bahamas Gov't responds to United States 2013 Human Rights Report - Feb 28, 2014 - 3:06:38 PM

Nassau, Bahamas - The report for 2013 is being reviewed by the Ministry of Foreign Affairs.

From what has been seen so far,  there is no need for any alarm or undue concern. 

In a free and open society like ours, anyone is free to comment and investigate the human rights record of our country and we do not fear such an examination.

We will take note of any errors or overreaches in the report and it will have to be determined to what extent we address those issues.
News : Local
VAT Announces Next Round of Community Presentations - Feb 28, 2014 - 2:57:55 PM

The Government of the Bahamas is continuing its public education efforts on the impending Value Added Tax (VAT) implementation with a full month of community presentations.

Eight meetings are scheduled for late February and the month of March beginning on Friday, February 28, in conjunction with the Exuma Chamber of Commerce and ending on March 13 at the Church of God of Prophecy, East Street, Nassau.

Presentations will also be made at the following locations...
News : Local
Clearing Banks’ Association statement on disclosure of confidental information - Feb 26, 2014 - 5:46:18 PM

Nassau, Bahamas - The following is a press statement from the Clearing Banks' Association:

The Clearing Banks’ Association notes with concern recent articles in the press purporting to disclose a member of the Association’s confidential customer information.

The unauthorized release of client information may represent a breach of the laws of The Bahamas.

In order to protect the integrity of the Banking Industry...
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