Medical facilities 'may have case' for Business Licence recovery

Mon, Jan 24th 2011, 10:00 PM

By ALISON LOWE
Business Reporter

alowe@tribunemedia.net

A Bahamian accountant yesterday suggested that private hospitals and medical clinics may have been incorrectly required to pay Business Licence fees, amounting to hundreds of thousands of dollars, for decades.

Theofanis Cochinamogulos, managing partner of Cochinamogulos and Co, a chartered accountancy and management consultancy firm, told Tribune Business yesterday that it was his belief, in consultation with attorneys, that private medical clinics and Doctors Hospital may be wise to consider the possibility of "recovery" of the Business License fees paid under the old Act given its wording.

"We have received legal advice ...

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