'NAIL IN COFFIN' OF FREEPORT'S 70-120M BOND ECONOMY

Thu, Dec 1st 2011, 10:00 PM

By NEIL HARTNELL

Tribune Business Editor

BAHAMAS Customs was yesterday accused of "putting another nail in the coffin of Freeport's" $70-$120 million bonded goods economy, a leading attorney describing the terms it was setting as a "bureaucratic perversion" that would cause "commercial constipation".

Fred Smith QC, attorney and partner at Callender's & Co, said the minute he or his companies received a letter from Customs requiring them to provide it with a list of all 2011 bonded goods purchases, in order to have the same duty-free privileges renewed in 20102, he would launch Judicial Review proceedings.

Describing the pre-conditions set by Customs as & ...

Click here to read more at The Tribune

 Sponsored Ads