Search results for : payroll
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The government will determine whether it will fund Baha Mar's $7.5 million payroll for the second consecutive month following negotiations over the coming days, The Nassau Guardian understands.
A judge in the Delaware Bankruptcy Court yesterday blocked an attempt by Baha Mar Ltd. (BML) to force its payroll service provider, Strategic Outsourcing Incorporated (SOI), to meet the developer's payroll needs as it seeks access to its debtor-in-possession (DIP) financing facility.
President of investment and advisory firm CFAL Anthony Ferguson said the idea of introducing the Christie administration's National Health Insurance (NHI) scheme in January 2016 without a payroll tax to support it - supposedly to refrain from adding to the tax burden on Bahamians - is "hopeful, but delusional".
A top banker has argued that imposing an income tax would not deter the wealthy from moving to The Bahamas, arguing that this or a payroll tax would be preferable to the "very, very complicated" value-added tax (VAT) proposed.
Ian Fair, chairman of Butterfield Bank and former chairman of the Grand Bahama Port Authority (GBPA), told Guardian Business during an interview from London, England, that a...
While the introduction of value-added tax (VAT) would slow the economy down and result in a "surge in inflation" in the short-term, households would ultimately be better off with VAT compared to payroll tax, according to a new study by Oxford Economics.
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) and the Coalition for Responsible Taxation commissioned the report.
A study from the Coalition for Responsible Taxation has provided evidence that a payroll tax at six percent would be significantly more beneficial for the country's number one industry - tourism - than value-added tax, involving less of an "inflationary shock" in the short term, while ultimately achieving a similar level of debt reduction in the long term.
The report, compiled by global forecastin...
International evidence suggests payroll tax would have a worse impact on growth and employment in the country than a value-added tax (VAT), according to two New Zealander VAT specialists.
Don Brash, a prominent businessman in New Zealand, who was intimately involved in the introduction of VAT there in 1986, said that he was persuaded in the mid-1980s and remains so today, that VAT is the "least ba...