THE government is extending its current tax relief order to continue to support reconstruction efforts in Abaco and Grand Bahama, Prime Minister Dr Hubert Minnis said yesterday.

 

The relief order, which is known as the SERZ, will continue to the end of December 2021 providing tax relief for the full suite of construction-related supplies and activities. #“It will go a long way in supporting the full restoration of the impacted communities,” Dr Minnis said while delivering his 2021/2022 budget presentation in the House of Assembly. #He said the government will provide tax incentives to encourage property owners in the communities of Abaco and Grand Bahama for two years by eliminating VAT on conveyances for 58 properties under $250,000 for Bahamians. #Dr Minnis believes this will encourage people to invest in buying properties and homes on those islands. #Foreign buyers under the same threshold will get a discounted VAT rate. #“Under the Accelerate Bahamas Plan, we want to incentivise persons to move with urgency with the investment plans. Not only will this spur commercial activity, but it will also make these transactions more affordable for ordinary Bahamians,” he said. #Dr Minnis noted that residents of Abaco and Grand Bahama have benefitted from tax relief concessions to the tune of over $260m. #The extension of the Special Economic Recovery Zone Order will continue to ease the burden of rebuilding after Hurricane Dorian, he added.

The relief order, which is known as the SERZ, will continue to the end of December 2021 providing tax relief for the full suite of construction-related supplies and activities.

“It will go a long way in supporting the full restoration of the impacted communities,” Dr Minnis said while delivering his 2021/2022 budget presentation in the House of Assembly.

He said the government will provide tax incentives to encourage property owners in the communities of Abaco and Grand Bahama for two years by eliminating VAT on conveyances for 58 properties under $250,000 for Bahamians.

Dr Minnis believes this will encourage people to invest in buying properties and homes on those islands.

Foreign buyers under the same threshold will get a discounted VAT rate.

“Under the Accelerate Bahamas Plan, we want to incentivise persons to move with urgency with the investment plans. Not only will this spur commercial activity, but it will also make these transactions more affordable for ordinary Bahamians,” he said.

Dr Minnis noted that residents of Abaco and Grand Bahama have benefitted from tax relief concessions to the tune of over $260m.

The extension of the Special Economic Recovery Zone Order will continue to ease the burden of rebuilding after Hurricane Dorian, he added.

 

WORKS Minister Desmond Bannister has stressed the demolition of homes in the Farm shanty town in Abaco will be done with decency but said it is not his responsibility to take care of residents displaced by the destruction of their houses.

“That might sound harsh,” he told reporters before a Cabinet meeting yesterday, “but when they went out there and built in direct contravention of the law, they knew or ought to have known that they were breaching the law of The Bahamas. #“They’ve gotten notices now for more than 28 days and they’ve done nothing. It’s very important for them to use their resources, whatever resources they had to build the house in the first place, they could’ve applied in accordance with the law and be able to lawfully construct something just as any of y’all would do.” #Mr Bannister confirmed that on Friday the government began the third phase of its plan to demolish shanty houses that were built since a Supreme Court ruling in December 2018 ordered the government not to demolish the shanty structures that existed at that time. That ruling also ordered residents not to build any new shanty houses. #Mr Bannister said the structures currently targeted for destruction “are being constructed directly contrary to a Supreme Court order that said you are not to construct any shanty houses or you’re not to enlarge them or anything like that.” #The Tribune on Sunday spoke to a man who said dealing with the destruction of his house has been a nightmare. He said he has been separated from his girlfriend and her two-year-old daughter while they figure out their next move. #The Bahamian man said he built his house in The Farm after Hurricane Dorian destroyed his home in Marsh Harbour. He said he knew what he was doing was against the law but hoped to make it work until he could get back on his feet. #Mr Bannister said the Ministry of Works has gone out of its way to let residents secure their belongings even after they ignored notices to leave the premises. #“… We are doing it with decency, notwithstanding the illegality that these houses were built with,” he said.

“That might sound harsh,” he told reporters before a Cabinet meeting yesterday, “but when they went out there and built in direct contravention of the law, they knew or ought to have known that they were breaching the law of The Bahamas.

“They’ve gotten notices now for more than 28 days and they’ve done nothing. It’s very important for them to use their resources, whatever resources they had to build the house in the first place, they could’ve applied in accordance with the law and be able to lawfully construct something just as any of y’all would do.”

Mr Bannister confirmed that on Friday the government began the third phase of its plan to demolish shanty houses that were built since a Supreme Court ruling in December 2018 ordered the government not to demolish the shanty structures that existed at that time. That ruling also ordered residents not to build any new shanty houses.

Mr Bannister said the structures currently targeted for destruction “are being constructed directly contrary to a Supreme Court order that said you are not to construct any shanty houses or you’re not to enlarge them or anything like that.”

The Tribune on Sunday spoke to a man who said dealing with the destruction of his house has been a nightmare. He said he has been separated from his girlfriend and her two-year-old daughter while they figure out their next move.

The Bahamian man said he built his house in The Farm after Hurricane Dorian destroyed his home in Marsh Harbour. He said he knew what he was doing was against the law but hoped to make it work until he could get back on his feet.

Mr Bannister said the Ministry of Works has gone out of its way to let residents secure their belongings even after they ignored notices to leave the premises.

“… We are doing it with decency, notwithstanding the illegality that these houses were built with,” he said.

 

The new $250 million Nassau Cruise Port (NCP) - a key component of the long-promised revitalization of a rundown City of Nassau - is taking shape and is on track for a summer 2022 completion, said NCP's Chief Executive Officer Mike Maura as he and his team took National Review on a tour of the of the project Monday.

The government of The Bahamas signed a heads of agreement with Nassau Cruise Port Ltd. in August 2019 for the port redevelopment. The project entails extensive marine work and expansion of the piers, which will allow the port to accommodate larger ships. “We’re very excited about the marine works,” Maura said. “It’s going fantastic and you would have seen during the tour that the work is first class, just what you find in any major city, any major port project anywhere in the world.” The Nassau Cruise Port will be able to berth as many as three Oasis class ships at once, as well as other vessels. When completed, it will be able to accommodate up to 33,990 cruise passengers daily, up from 22,620. Oasis class ships are each able to accommodate 6,780 passengers and 2,200 crew members.  “The fact is that so many new bigger ships are coming out of shipyards over the next five years,” Maura said. “We’re actually going to find more larger ships than we’re going to find smaller ships coming out of the Port of Miami, Port Everglades, Canaveral. The Bahamas is going to be so much further ahead than our neighbors throughout the Caribbean – from an infrastructure perspective and from a tourism capacity perspective – that we’re going to be in great shape.” The new world-class port will include a new terminal, a waterfront park, a harbor village, a new inner harbor, amphitheater, Junkanoo Museum, shops, restaurants and an impact theater. New passenger transfer and parking and waiting areas to ensure the smooth and efficient operations by existing licensed taxi and tour operators are also part of the redevelopment.

The government of The Bahamas signed a heads of agreement with Nassau Cruise Port Ltd. in August 2019 for the port redevelopment.

The project entails extensive marine work and expansion of the piers, which will allow the port to accommodate larger ships.

“We’re very excited about the marine works,” Maura said.

“It’s going fantastic and you would have seen during the tour that the work is first class, just what you find in any major city, any major port project anywhere in the world.”

The Nassau Cruise Port will be able to berth as many as three Oasis class ships at once, as well as other vessels. When completed, it will be able to accommodate up to 33,990 cruise passengers daily, up from 22,620.

Oasis class ships are each able to accommodate 6,780 passengers and 2,200 crew members. 

“The fact is that so many new bigger ships are coming out of shipyards over the next five years,” Maura said.

“We’re actually going to find more larger ships than we’re going to find smaller ships coming out of the Port of Miami, Port Everglades, Canaveral. The Bahamas is going to be so much further ahead than our neighbors throughout the Caribbean – from an infrastructure perspective and from a tourism capacity perspective – that we’re going to be in great shape.”

The new world-class port will include a new terminal, a waterfront park, a harbor village, a new inner harbor, amphitheater, Junkanoo Museum, shops, restaurants and an impact theater. New passenger transfer and parking and waiting areas to ensure the smooth and efficient operations by existing licensed taxi and tour operators are also part of the redevelopment.

 

The government of The Bahamas yesterday signed an historic air navigation services agreement with the US Federal Aviation Administration (FAA) for the monitoring of The Bahamas’ sovereign airspace for a period of ten years at no cost, Minister of Tourism and Aviation Dionisio D’Aguilar announced yesterday at the agreement signing ceremony, adding that the country could collect up to $350 million from overflight airlines over that ten years.

The government of The Bahamas yesterday signed an historic air navigation services agreement with the US Federal Aviation Administration (FAA) for the monitoring of The Bahamas’ sovereign airspace for a period of ten years at no cost, Minister of Tourism and Aviation Dionisio D’Aguilar announced yesterday at the agreement signing ceremony, adding that the country could collect up to $350 million from overflight airlines over that ten years. D’Aguilar explained that while the FAA has been monitoring this country’s airspace for some time, there has never been a formal agreement in place. And while the FAA’s monitoring of the airspace will be done at no cost, his country will have to pay an annual $80,000 fee to acquire data on airlines passing through The Bahamas’ airspace. That data will help the newly formed Bahamas Air Navigation Services Authority (BANSA) to collect overflight fees due to this country. “Today, we conclude decades upon decades of talks between The Bahamas and the United States about the management of the sovereign airspace of The Bahamas,” D’Aguilar said. “Today, The Bahamas will assume, for the very first time, the management of its sovereign airspace. Commencing May 1, 2021, aircraft landing in and departing out of the sovereign airspace of The Bahamas, aircraft flying solely within the sovereign airspace of The Bahamas and aircraft flying over the sovereign airspace of The Bahamas will start, for the very first time, to pay fees to an entity solely owned and operated by the government of The Bahamas.” According to D’Aguilar, before the signing of this agreement, the US provided air navigation services for about 75 percent of The Bahamas’ sovereign airspace, while Cuba controlled the rest. Overflight fees were therefore paid directly to the FAA and the Cubans. “The Bahamas received not one red cent from this arrangement,” said D’Aguilar. He added that the money collected from the overflight fees will be used to build BANSA’s capacity, so that one day, The Bahamas may be able to manage its own airspace. Until then, the overflight fees charged by The Bahamas will move the country toward purchasing the equipment and training the staff necessary to achieve such independence.

D’Aguilar explained that while the FAA has been monitoring this country’s airspace for some time, there has never been a formal agreement in place. And while the FAA’s monitoring of the airspace will be done at no cost, his country will have to pay an annual $80,000 fee to acquire data on airlines passing through The Bahamas’ airspace.

That data will help the newly formed Bahamas Air Navigation Services Authority (BANSA) to collect overflight fees due to this country.

“Today, we conclude decades upon decades of talks between The Bahamas and the United States about the management of the sovereign airspace of The Bahamas,” D’Aguilar said.

“Today, The Bahamas will assume, for the very first time, the management of its sovereign airspace. Commencing May 1, 2021, aircraft landing in and departing out of the sovereign airspace of The Bahamas, aircraft flying solely within the sovereign airspace of The Bahamas and aircraft flying over the sovereign airspace of The Bahamas will start, for the very first time, to pay fees to an entity solely owned and operated by the government of The Bahamas.”

According to D’Aguilar, before the signing of this agreement, the US provided air navigation services for about 75 percent of The Bahamas’ sovereign airspace, while Cuba controlled the rest. Overflight fees were therefore paid directly to the FAA and the Cubans.

“The Bahamas received not one red cent from this arrangement,” said D’Aguilar.

He added that the money collected from the overflight fees will be used to build BANSA’s capacity, so that one day, The Bahamas may be able to manage its own airspace. Until then, the overflight fees charged by The Bahamas will move the country toward purchasing the equipment and training the staff necessary to achieve such independence.