Finance

Donald Trump's 2005 tax return leak reveals $38m bill

March 15, 2017

US President Donald Trump paid $38m (£31m) in tax on more than $150m (£123m) income in 2005, a leaked partial tax return shows.

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CIBC FirstCaribbean Celebrates Updated Leeward Highway Branch
CIBC FirstCaribbean Celebrates Updated Leeward Highway Branch

March 07, 2017

CIBC FirstCaribbean International Bank celebrated the re-opening of its recently upgraded branch at Leeward Highway with a ribbon-cutting ceremony and cocktail reception on February 28th...

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Commonwealth Bank Board Approves Extra-Ordinary Dividend as it releases 2016 year-end report
Commonwealth Bank Board Approves Extra-Ordinary Dividend as it releases 2016 year-end report

March 07, 2017

The Board of Directors of Commonwealth Bank Limited has announced a final extraordinary dividend of six cents per share based on 2016 results of $57.4 million in net income...

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Bahamas Association of Compliance Officers Make Courtesy call on the Minister of Financial Services

March 04, 2017

The Bahamas Association of Compliance Officers (BACO) made a courtesy call on the Minister of Financial Services and Local Government the Hon. Hope Strachan...

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Secretary-General

March 03, 2017

Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), Dr. Mukhisa Kituyi paid a courtesy call on the Minister of Financial Services...

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Commonwealth Bank Chairman 'Proven Business Model Results in Sustained Profitability'

February 28, 2017

Commonwealth Bank today reported unaudited total profit of $57.4 million for 2016. Total assets climbed to $1.6 billion at December 31, 2016. Earnings closely paralleled those of 2015 showing only a 0.7% decline. Total assets were up 4.8% over 2015...

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Financial Services Signs MOU with Chamber for Trade Portal

February 22, 2017

The Ministry of Financial Services has signed a Memorandum of Understanding (MOU) with the Bahamas Chamber of Commerce and Employers Confederation. The MOU is for cooperation in the establishment of a Trade Information Services (TIS)...

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National Bankers Association Chairman pays courtesy call on Minister of Financial Services

February 13, 2017

Chairman of The National Bankers Association, based in Washington, D.C., Preston Pinkett, paid a courtesy call on Minister of Financial Services and Local Government the Hon. Hope Strachan...

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The Bahamas Launches Trade Sector Support Program

February 13, 2017

Minister of State for Finance the Hon. Michael Halkitis said, recently, that The Bahamas has arrived at a significant milestone in implementing the Bahamas Electronic Single Window in the "action phase" of a Trade Sector Support Program...

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Bahamas Signs Tax Agreement with Japan

February 13, 2017

Minister of State for Finance the Hon. Michael Halkitis said, on February 9, 2017, that The Bahamas and Japan concluded a Tax Information Exchange Agreement in January 2011 and the signing of the Protocol that day -- six years later -- with Japan was another step towards The Bahamas...

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Prime Minister Christie Commites to More Agility Regarding Financial Sector

February 01, 2017

The Government of The Bahamas has moved to introduce a Competitiveness Council, a partnership between the National Development Plan Secretariat within the Office of The Prime Minister and the Private Sector...

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'Shameful that Halkitis cannot explain where VAT has gone'
'Shameful that Halkitis cannot explain where VAT has gone'

February 01, 2017

FREE National Movement Leader Dr Hubert Minnis yesterday said it is "shameful" that after two hours on the radio airwaves, Minister of State for Finance Michael Halkitis could not explain to the Bahamian people "where the VAT money gone"...

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The Bahamas to improve airport infrastructure with IDB support

January 25, 2017

A $35 million loan will enhance the connectivity of four airports on the Family Islands

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PM Christie Updates Business Community on Foreign Investment Projects

January 25, 2017

Prime Minister and Minister of Finance, the Rt. Hon. Perry Christie told businesspersons and stakeholders attending Bahamas Business Outlook at Melia Nassau Beach Resort that that the remobilization of the Baha Mar Resort is well underway and the project will open in phases with the golf course...

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Electronic Trade Portal to be launched by Ministry of Financial Services

January 23, 2017

The Ministry of Financial Services conducted an information session on The Bahamasí Trade Information Service Desk and Electronic Portal at SuperClubs Breezes on January 18, 2017. The official launch of the trade portal is tentatively scheduled for early March 2017. The Inter-American Development Bank (IDB) sponsored the event....

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Statement by Minister Strachan-Response to Associated Press Report

January 23, 2017

A Report published by The Associated Press yesterday indicated that the European Union is poised to produce a list of countries and territories which make tax crimes easier and has singled out and names The Bahamas...

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Bahamas On Track to Implement Common Reporting Standard (CRS)

January 23, 2017

The Bahamas has taken many steps to comply with global standards in the financial services sector. One such step is the implementation of the Common Reporting Standard (CRS). The Common Reporting Standard (CRS), developed in response to the G20 request and approved by the OECD...

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Greenslade warns on looms
Greenslade warns on looms

January 12, 2017

Commissioner of Police Ellison Greenslade yesterday warned participants of "looms" that "nothing is free"...

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No VAT on Baha Mar completion
No VAT on Baha Mar completion

January 05, 2017

THE Government was yesterday urged to divulge "the full cost to the Bahamian people" of its Baha Mar agreement after evidence emerged to show it had extended an exemption from Value-Added Tax to all companies and suppliers working on the construction completion of the resort...

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Statement from the Ministry of Foreign Affairs-Purported receipt from Saw Grass Mill for Bahamian Currency Exchange
Statement from the Ministry of Foreign Affairs-Purported receipt from Saw Grass Mill for Bahamian Currency Exchange

December 28, 2016

It has been brought to the attention of the Foreign Ministry that a receipt purporting to be an exchange of Bahamian dollars at the Sawgrass Mall in Florida for US currency has been posted on social media sites...

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