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NHI implementation is too much, too soon, insurer says
Given the hike in the ceiling for National Insurance contributions in July 2014, raises in government fees last year and the January 1 implementation of the value-added tax (VAT), insurance professional Lyrone Burrows told Guardian Business that th...
 
 
Importers cheat govt of $5M with fake customs invoices
Unscrupulous importers have bilked the Bahamas Customs Department out of $5 million in customs duties by falsifying invoices, according to Comptroller of Customs Charles Turner, who said his department had only discovered the outstanding funds after ...
 
 
NHI revenue potential up to $600M plus in 2016, report says
The proposed National Health Insurance (NHI) scheme put forward by medical consultant Sanigest Internacional has identified a glut of potential NHI revenue sources ranging from new excise taxes to a ranging scale of National Insurance Board (NIB) fee...
 
 
Importers cheat govt of $5M with fake customs invoices
Unscrupulous importers have bilked the Bahamas Customs Department out of $5 million in customs duties by falsifying invoices, according to Comptroller of Customs Charles Turner, who said his department had only discovered the outstanding funds after ...
 
 
Committee set to work on GBI economic plan after HCA provisions expire
Prime Minister Perry Christie has confirmed that his administration will allow the expiration of certain provisions of the Hawksbill Creek Agreement (HCA) in August, opting to use the chance to procure a comprehensive set of new arrangements to spur ...
 
 
PAC chair frustrated by inconsistent meetings
Public Accounts Committee (PAC) Chairman Hubert Chipman continues to express frustration with the inability of the members of the PAC to meet consistently, despite having majority Opposition membership. Chipman, the Free National Movement (FNM) MP...
 
 
Taxi driver responds to Baha Mar proposal
The Baha Mar taxi reform proposal has been met by at least one person with outright suspicion. Outspoken taxi driver John McPhee has objected to the proposal for a number of reasons, accusing the mega resort of “intellectual plagiarism” and unila...
 
 
Sunshine Insurance account executives recognized for exam passes
Three Sunshine Insurance account executives were recognized Wednesday night for passing various insurance exams – one of whom attained a distinction. The Bahamas Insurance Association held its annual awards reception and ceremony at the Nassau Yac...
 
 
Urban renewal investigation report today to PAC
Ten months after it was requested, a report by the auditor general on an investigation into Urban Renewal has been delivered to the Public Accounts Committee (PAC) of the House of Assembly, and is scheduled for review when the PAC meets today, acco...
 
 
BAMSI president promises 10K agriculture sector jobs
Former Director of Agriculture Dr. Godfrey Eneas yesterday stated that the country’s agriculture sector would create 10,000 jobs as New Providence launches its Agribusiness Expo 2015. The Bahamas Agriculture and Marine Science Institute (BAMSI) pr...
 
 
Bahamas represented at ITB 2015 Conference
BERLIN, Germany – Senior officials in the Ministry of Tourism are this week in Berlin, Germany participating at the ITB 2015 conference – the largest tourism trade show in the world. Among the delegation are Director General of Tourism Joy Jibri...
 
 
New wind farm in Jamaica
As Caribbean labor ministers gathered in session in The Bahamas to discuss greening their economies, Jamaica has broken ground on another wind farm, this one in St. Elizabeth. The ninth International Labour Organization (ILO) Meeting of the Caribbea...
 
 
New Atlantis president named
Former Atlantis Chief Operating Officer Paul Burke has been named president and managing director of the resort, succeeding decorated hotelier George Markantonis, who leaves to take the job as president and chief operating officer of The Venetian, Th...
 
 
Proposed NHI scheme ties benefits to cost
Health care consultants Sanigest Internacional — whose terms of reference include the specification of the key design features of a National Health Insurance (NHI) scheme, its benefits, costs and payment mechanisms and financing — has given the g...
 
 
Private insurers want NHI plans substantially reduced
Even the most basic of the three plans proposed by Sanigest Internacional for National Health Insurance (NHI) is too comprehensive — “too rich” — and threatens to substantially reduce the private health insurance industry in The Bahamas, acco...
 
 
Sumner: Bahamas lagging in green economy, renewable sector planning
Bahamas Chamber of Commerce and Employers Confederation (BCCEC) CEO Edison Sumner yesterday urged the government to move beyond talk to action regarding the National Energy Policy, as regional competitors surpass The Bahamas in creating long-term emp...
 
 
Customs Department relaunches marine unit
The Bahamas Customs Department (BCD) — supported by the Royal Bahamas Defence Force — has re-established its marine unit, and yesterday foreshadowed the launch of canine units and the expanded use of scanning devices as ways to further its effort...
 
 
Single window platform process progressing
The Bahamas Customs Department (BCD) has revealed that all the agencies that will be integrated into the electronic single window (ESW) have signed the requisite memorandums of understanding. The ESW is the prime tool through which the departmen...
 
 
Consultants: Potential NHI savings far outweigh implementation costs
The National Health insurance (NHI) analysis conducted by healthcare consultant Sanigest Internacional has projected that as much as 12 percent of The Bahamas’ GDP would have to be dedicated to healthcare if the country does not adopt NHI, stating ...
 
 
Tax expert: Voluntary compliance will not last forever
In 2013, the United States’ (U.S.) Internal Revenue Service (IRS) launched a voluntary reporting program — the third of its kind — aimed at encouraging U.S. citizens living abroad to come into compliance with the Foreign Account Tax Complia...
 
 
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