Business Licence reform prompts calls for 'relief'

Thu, Oct 21st 2010, 11:00 PM

By ALISON LOWE Business Reporter alowe@tribunemedia.net Bahamian businessmen have expressed concern and ire over the Government's decision to adjust the calculation of Business Licence fees through a method which "does not take account of the cost of producing revenue". Several private sector figures, at a forum held by the Ministry of Finance on Wednesday evening, suggested that if the calculation of their business license fees were to shift from being based on gross profit to turnover, this could push their operations into the red, and called for "relief" from this requirement for "struggling businesses". "Perhaps the Government should put some relief in t ...

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