Hotel News

Don't Be 'Deer In Headlights' If Vat Not Ready July 1

Print

The Bahamas cannot adopt “a deer in the headlights” approach of Value-Added Tax (VAT) is not ready to go come July 1, a Tax Coalition co-chair yesterday calling for a phased approach to reform.

Gowon Bowe said that if the Government knew it was not going to make its implementation deadline, it had to avoid going into “a state of paralysis” and have short-term initiatives on hand to “steady the ship” while the best long-term fiscal reforms were developed.

Agreeing that practical readiness was where the Bahamas had “a tight timeline”, Mr Bowe said there were questions over whether the Government had its own VAT collection systems in place, and if the persons to staff the Central Revenue Agency (CRA) had been hired and trained, “given that this tax has more elements to it”.

“Have they engaged the business community in meaningful and tangible interfacing and testing of how the system works,” the Coalition for Responsible Taxation’s co-chair asked. “These are things of significance. If you’re behind the timelines, you have to look at your ability to forge ahead.”

Mr Bowe and Frank Comito, executive vice-president of the Bahamas Hotel Association, confirmed that “none of the major players in the hotel sector and business community” had been involved in any system testing yet.

And they added that with the new Tariff Schedule yet to be published, and the implementation guidance notes not finalised, it was impossible for companies to get their software and systems ready for VAT compliance.

“Time is not in their favour for July 1,” said Mr Bowe, who added that the Coalition was also set to meet with the Bahamas’ World Trade Organisation (WTO) negotiating team to discover what the nation’s likely reduced tariff commitments were, and if they was any “flexibility” in when they could be implemented”.

Read more...
 

Tourism and Taxes: Addressing the Myths

Print

While most Bahamians appreciate the essential role that tourism plays in our economy, lives and livelihoods; there is a need to further clarify the tax and revenue contributions to our economy.  The goal is to dispel any myths about this industry.  We all stand to pay a hefty price if rhetoric drives public taxation policies.

As the Government seeks new revenues to reduce the budget deficit, the tourism industry has become a prime target by some. Tourism leaders understand how important it is to keep our economy in recovery, and believe the industry has paid its fair share.

Last Updated on Thursday, 27 March 2014 08:22 Read more...
 

BHTA Announces 2014 National Culinary Team

Print

Introducing Team Bahamas 2014 To Compete At Taste Of The Caribbean 2014


The Bahamas Hotel and Tourism Association (BHTA) is proud to announce its national culinary team that will represent the country at the 2014 Taste of the Caribbean, the Caribbean Hotel and Tourism Association's (CHTA) annual culinary competition, taking place June 28 - July 2, 2014 at the Hyatt Regency in Miami, FL.

Last Updated on Monday, 31 March 2014 13:11 Read more...
 

Grand Bahama Mega-Resort 'On Course'

Print

A 2018 opening, the hiring of 9,000 to 10,000 people, and the construction of what will essentially be a mini-city in East Grand Bahama are all said to be "on course" by a proposed $6.3 billion development's    U.S.-based    developer,    Larry McDonough.

Read more...
 

Abaco Resort Appoints New Executive

Print

Abaco Beach Resort and Boat Harbour Marina in The Bahamas has announced the appointment of Brent Ingraham as the director of sales and marketing.

Read more...
 


Page 29 of 152