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.
The tax break - revealed in an email from the project’s general contractor - could mean the Government forgoing up to $60m in revenue, according to one educated estimate, and is likely to provoke outrage among Bahamians, upset that exemptions are being granted to the Chinese when the same are not being made available to local businesses and consumers...
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.
The tax break - revealed in an email from the project’s general contractor - could mean the Government forgoing up to $60m in revenue, according to one educated estimate, and is likely to provoke outrage among Bahamians, upset that exemptions are being granted to the Chinese when the same are not being made available to local businesses and consumers...
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