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GB hotels suffer drop in revenue
April 25, 2011
GB hotels suffer drop in revenue
By ALISON LOWE
Business Reporter
alowe@tribunemedia.net
GRAND Bahama hotels suffered a 19.9 per cent fall off in hotel revenue in the last three months of 2010, primarily due to a "significant contraction in occupancy levels," the Central Bank said in its latest report.
This came even as overall arrivals to the island rose by 11.3 per cent, up from 2.1 per cent in 2009, thanks to an 18.3 per c...
Government revenue up 22.4% in Oct.
December 02, 2022
Government revenue up 22.4% in Oct.
The government revealed in its monthly fiscal report press statement yesterday that revenue improved by 22.4 percent in the month of October, when compared to the same period last year. The report explained that receipts totaled $227.2 million via an improvement in tax revenue of $205.3 million. The Monthly Fiscal Summary report outlined that value-added tax ...
The post Government revenue up 22.4...
March 21, 2024
Letters to the Editor: The path to revenue enhancement
Editor, It was written by the revered Chinese Sage and Philosopher Confucius, in 500 BC that ' The ruler of a country of a thousand chariots must give diligent attention to business; he must be sincere; he must be economical; he must love his people; and he must provide employment for his people at the [...]
March 12, 2024
PM Davis: Revenues up $72.9 million compared to same period in previous budget cycle
While making his Opening Contribution to the Mid-Year Budget Debate 2023/2024, on March 6, 2024, Prime Minister and Minister of Finance the Hon. Philip Davis pointed out that, as of December 2023, revenues were up $72.9 million compared to the same period in the previous budget cycle.
March 01, 2024
Inland Revenue at just under 50 percent of real property tax revenue target
NASSAU, BAHAMAS — The Department of Inland Revenue's top official yesterday revealed that the Department, as of February, had collected just under 50 percent of its projected $195 million in real property tax revenue target for this fiscal period. Acting Controller Shunda Strahcan, while speaking at a press briefing at the Office of the Prime [...]
February 29, 2024
Inland Revenue Acting Controller: We have To Meet The Target, We Don't Have A Choice
NASSAU, BAHAMAS - As government cracks down on tax collections to bring down deficit numbers by the end of the fiscal year, the Department of Inland Revenue is making it clear they'll do what it takes to meet that target.
Tax avoidance causing $200m annual revenue loss
February 22, 2024
Tax avoidance causing $200m annual revenue loss
PM announces data-driven response to stop revenue slipping through the cracks NASSAU, BAHAMAS — Prime Minister Philip Davis revealed on Wednesday that the government is employing a data-driven approach to aggressively tackle numerous tax avoidance schemes, which are causing the government an annual loss of approximately $200 million in revenue. During his delivery of the [...]
Tax revenue collections improve by nearly $73 million during first six months of the fiscal year
February 22, 2024
Tax revenue collections improve by nearly $73 million during first six months of the fiscal year
The deficit exceeded the budget forecast by $127.6 million at the halfway mark. NASSAU, BAHAMAS – Prime Minister Philip Davis announced a $72.9 million improvement in tax revenue collections during the first six months of the fiscal year, reaching $1.2 billion, which accounted for 40.1 percent of the budget target. In his mid-year budget statement, [...]
Opposition concerns arise over lack of global minimum corporate tax revenue infrastructure
February 19, 2024
Opposition concerns arise over lack of global minimum corporate tax revenue infrastructure
NASSAU, BAHAMAS — The Opposition has expressed serious concern that the government has yet to establish the infrastructure necessary to enforce the requirement for multinational companies to submit a 15 percent corporate minimum tax on income generated within this jurisdiction. Opposition Leader Michael Pintard said in a statement that the previous FNM administration signed on [...]
Hotels suffer 6.1 per cent revenue decline
April 12, 2011
Hotels suffer 6.1 per cent revenue decline
By ALISON LOWE
Business Reporter
alowe@tribunemedia.net
Hotels in Nassau and Paradise Island suffered a 6.1 per cent slump in their revenues during January and February compared to 2010, due to lower occupancies and average daily room rates (ADRs), the Central Bank of the Bahamas said yesterday.
Leading tourism stakeholders blamed this outcome on bad weather in the US, which reduced bookings an...
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