It is with great pleasure that The Grand Bahama Port Authority (GBPA) can now confirm the full extent of past and ongoing discussions with Government regarding future economic expansion in Freeport and Grand Bahama.
My people never cease to amaze me. There is not one single salient thing said on VAT by the two visiting consultants from New Zealand that has not firstly already been said to our government by the IMF, or that has not already repeatedly been said to the government by Bahamians, yet the government and the Bahamian media are behaving as though salient points stated by these gentlemen, with all due respect to them, are brand new or independently consequential.
When is the last time in this country’s history you’ve seen so many commercial and offshore banks downsize all within a single fiscal year?
The following are several of the many issues in the country that the Bahamian people ought to be given answers to:
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.
Freelance Business Consultant, Bridgette Mackey, recently stated that there needs to be a change in the financial culture throughout The Bahamas and the offloading of some personal expenses as the government readies to implement Value Added Tax (VAT).
A renowned tax specialist encouraged support of value added tax in The Bahamas, saying that this is “an opportune time to introduce a more efficient means of collecting revenue” before more extreme measures are taken.
Follow the dollar multiplier and it’s clear that ‘Tourism is everybody’s business’. More than 50 cents out of each dollar in every Bahamian’s pocket came from a tourist.
Admittedly, I was pleased to see that the government decided to overlook potential electoral threats and/or the propensity to please campaigning churchmen (to lock up their church members’ votes) and instead chose to govern.