Search results for : hotel supplies
New VAT rules, 10K fines issued
February 04, 2015
New VAT rules, 10K fines issued
The Ministry of Finance and the VAT (value-added tax) Department have begun issuing fines up to $10,000 and warnings to more than 200 businesses who have declared turnover above the $100,000 threshold and who submitted late applications.
New energy policy: Credit, no cash for surplus power
September 23, 2014
New energy policy: Credit, no cash for surplus power
The government has released a national energy policy which would allow residential and specified commercial customers to supply part of their power needs through select renewable energy sources, but the policy contains separate energy generation conditions for jurisdictions throughout The Bahamas, and the residential energy self generation (RESG) regime set out in the policy comes up for review tw...
Miller threatens hotels 'out west'
September 17, 2014
Miller threatens hotels 'out west'
Bahamas Electricity Corporation (BEC) Executive Chairman Leslie Miller yesterday warned the "the three hotels out west" to pay their outstanding electricity bills by the end of the week or face disconnection.
Miller said they collectively owe the corporation more than $30 million.
He said BEC is struggling with a fuel bill that exceeds $100 million.
Miller initially made his comments while a guest...
The fiscal reform series: A deeper dive into VAT
April 08, 2014
The fiscal reform series: A deeper dive into VAT
The analysis of the best taxation model and the appropriate mix of taxes for The Bahamas is far from over as we await the final study commissioned by the government and the results of the work done by Oxford Economics - a global advisory firm engaged by the Coalition for Responsible Taxation (Coalition). It is encouraging to see that the government seems to have kept its promise to work with the p...
November 14, 2013
Draft VAT bill proposes different registration thresholds
Two different registration thresholds have been proposed in the draft value-added tax (VAT) bill, one for the majority of businesses, who will be asked to register if they exceed a turnover threshold of $100,000 annually, and another for suppliers of professional services, hotel accommodations and commercial property for lease, who will be asked to register if their annual turnover exceeds $50,000...
Atlantis Christmas strongest 'in many years'
November 13, 2013
Atlantis Christmas strongest 'in many years'
Despite November being set to "end on a high note" and Christmas likely to be the strongest in "many years", Brookfield Hospitality's President and Managing Director yesterday said the resort will need "all the help we can get" to offset new costs it is set to face in 2014.
While expressing great enthusiasm for the outlook for the upcoming tourism season, George Markantonis told Guardian Business ...
August 07, 2013
Hoteliers rack up awards as annual NABHOOD summit closes
Great business relationships and opportunities were realized and strengthened this year at the 17th Annual International African American Hotel Ownership & Investment Summit and Trade show, according to its organizers.
Former National Basketball Association champion Rick Fox and Prime Minister Perry Christie also made an appearance...
April 24, 2013
17th Annual International African American Hotel Ownership & Investment Summit
Want to become a hotel owner or investor or looking for a joint venture partner? Want to learn on how to supply goods & services to the hotel industry? Want to learn about management and employment opportunities? Then join us at the 17th Annual International African American Hotel Ownership & Investment Summit & Trade Show on July 24-27, 2013 at the Marriott Miami Biscayne Bay Hotel, Miami, Florid...
Value Added Tax on the Cards
February 14, 2013
Value Added Tax on the Cards
The government is looking to introduce a 15 percent value added tax (VAT), which would take effect on July 1, 2014.According to Michael Halkitis, state minister for finance, the government's current level of revenue generation is inadequate.
October 19, 2012
PM: Consultants Hired To Audit Govt's Tourism Spending, Subsidies
The government has hired a firm of international consultants to audit tourism spending and subsidies, with the aim of getting more value for the millions spent annually on the country's number one industry, Prime Minister Perry Christie said.
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