Search results for : payroll
Govt considering bankrolling Baha Mar August payroll
July 24, 2015
Govt considering bankrolling Baha Mar August payroll
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.
July 15, 2015
Judge blocks BML's attempt to force payroll provider to meet payroll
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.
Baha Mar workers sent home, still on payroll
June 30, 2015
Baha Mar workers sent home, still on payroll
About two hours after Baha Mar filed for bankruptcy in the United States yesterday, scores of employees packed their belongings and left the Cable Beach property for what some feared was their last time.
PM has Baha Mar payroll concerns
June 19, 2015
PM has Baha Mar payroll concerns
Although Prime Minister Perry Christie indicated that he received good news about the Baha Mar project on Wednesday night, he warned yesterday that the mega resort could suffer payroll issues if its challenges are not resolved soon.
April 15, 2014
PM, minister, financial secretary agree: Payroll tax not a viable option
Bahamian workers would face grave reductions in take-home pay if a payroll tax were implemented instead of a value-added tax (VAT), said three of the leading voices in financial affairs, including that of the prime minister.
"You would need a payroll tax of 20-25 percent to equal what a VAT of 15 percent would generate," said Prime Minister Perry Christie.
The prime minister was addressing a gathe...
Ian Fair: Payroll or income tax better than VAT
June 30, 2014
Ian Fair: Payroll or income tax better than VAT
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...
VAT better than payroll tax, Oxford Economics finds
May 22, 2014
VAT better than payroll tax, Oxford Economics finds
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.
The report...
Oxford Economics: Payroll tax best for tourism
May 21, 2014
Oxford Economics: Payroll tax best for tourism
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...
April 28, 2014
New Zealand VAT experts: VAT preferable to payroll tax
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...
FNM deputy: I'd back payroll tax
April 29, 2014
FNM deputy: I'd back payroll tax
FNM Deputy leader Loretta Butler-Turner suggests that a payroll tax coupled with another revenue generation scheme like a national lottery should be implemented rather than the controversial Value Added Tax (VAT).
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