business@tribunemedia.net
FRIDAY, JANUARY 26, 2024
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PM says ‘I have no disputes’ with GBPA conference, acknowledged the Government’s criticisms of the GBPA and concerns over whether it is fulfilling its mandate to further develop Freeport, but said management and shareholders remain open to solving the situation through dialogue. He added: “I think the Prime Minister has made certain comments, and other ministers made certain comments about what they want to see and, of course, the Prime Minister is very
passionate about the entire Bahamas. “He wants to see progress on every single island, including Grand Bahama. We are open to have discussions with the Government of the Bahamas. We’ve said it openly, and I think that will probably happen at the end of the day. As far as I know, we’re not up for sale.” Philip Davis KC was also coy on the Government’s
approach and attitude towards the GBPA after it emerged last week that his administration plans to launch arbitration proceedings against Freeport’s quasi-governmental regulator over monies owed to cover the provision of public services in the city where the costs involved have exceeded tax revenues generated. “I have no disputes with them…. I will do what I have
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
IAN ROLLE to do to get Grand Bahama on the right track,” Mr Davis told reporters. Tribune Business reported last year that the Government has been speaking to both GBPA owners, the St George and Hayward families, and their representatives, about its willingness to acquire the GBPA for months.
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Hotel deal: ‘11th hour impasse’ over minimum wage workers By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net HOTEL employers yesterday pledged that an “11th hour impasse” will “not derail” their bid to reach a new industrial deal amid accusations they are seeking to “discriminate” against minimum wage staff. Darrin Woods, the Bahamas Hotel, Catering and
Allied Workers Union’s (BHCAWU) president, told Tribune Business that the early morning protest at the Sir Sidney Poitier Bridge was sparked after the Bahamas Hotel and Restaurant Employers Association allegedly sought to alter the proposed agreement’s terms at the last minute. He said all the documents were in the process of being vetted, and “finalised”, last
week when the Association purportedly took the position that minimum wage staff would not necessarily receive the 8 percent “across-theboard” salary increase the union wants for all members. Mr Woods instead said the Association has adopted the stance that such workers, mainly staff who gain the bulk of their income from guest tips, should receive “whichever is greater” - the
minimum wage increase or an 8 percent pay rise, but not both - when it comes to their base salary. This would mean that if a hotel worker’s base pay increased by more than 8 percent due to the Government increasing the minimum wage last year, they would not be entitled to a further rise under the new industrial agreement.
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Firms do not possess ‘unlimited money tree’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Chamber of Commerce’s chairman yesterday said the Government seems to feel firms have access to an “unlimited money tree” with the private sector often falling victim to “suppressive” policies. Timothy Ingraham, speaking on a panel discussion at the Bahamas Business Outlook conference, said the business community was frequently ignored by policymakers who proceeded with pre-conceived laws and regulations despite being warned of the potential harm they may inflict on the economy.
TIMOTHY INGRAHAM “It is critically important that the business community is involved in what is happening in this country, and planning in this country,” he argued. “I’ve seen too many times when we get called into collaborate
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Commission calls police in over ‘fictitious’ e-mail By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Securities Commission yesterday called for a police probe into a “fictitious” e-mail purporting to have come from its top executive which criticised proposed Securities Industry Act reforms. A spokesman for the capital markets regulator said it was “concerned” that the message, to which was attached a lengthy critique of the Securities Industry Bill 2024, was falsely sent under the name of Christina Rolle, its executive director. “The Commission is concerned that someone created a fictitious e-mail
CHRISTINA ROLLE address that gave the impression it was coming from the executive director to make the disclosure, and we’ve reported the matter to the police.” Separately, Tribune Business sources confirmed that
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Chamber chair blasts tax portal as ‘complete mess’ t 'JSNT TUJMM GFBS mOFT OP EFBEMJOF FYUFOTJPOT t 4BZT AOP UIPVHIU HJWFO UP IPX UIJT XJMM XPSL t "OOVBM #VEHFU BOYJFUZ PWFS UBYFT NVTU FOE
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
t 1PSU DIJFG VOBXBSF JG SFHVMBUPS GPS TBMF THE Prime Minister and Grand Bahama Port Authority’s (GBPA) president t %BWJT AXJMM EP XIBU * yesterday sought to downplay the two sides’ differences with IBWF UP EP GPS (# the latter saying he is unaware if Freeport’s regulator is t #PUI TFFL UP EPXOQMBZ up for sale. Ian Rolle, speaking at the UIFJS EJGGFSFODFT Bahamas Business Outlook
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THE Chamber of Commerce’s chairman yesterday blasted the Government’s new online tax payment portal as “a complete mess” with frustrated businesses receiving no relief from deadlines or fines. Timothy Ingraham, speaking on a panel discussion at the Bahamas Business Outlook conference, said companies who missed this week’s VAT payment filing date still face the threat of financial sanctions as there has been no confirmation these will be waived or deadlines extended despite the multiple known challenges with the new system. Questioning why the Department of Inland Revenue had timed the upgraded portal’s launch for one of its busiest months, given the end-January deadline for Business Licence filings, the Chamber chief said it appeared that “no thought was given as to how this is going to work” when tax-paying companies tried to long-in from New Year’s Day. Asked by panel moderator, Christel SandsFeaste, the Higgs & Johnson attorney and partner, whether he thought policymakers “appreciate the necessity” to make it easier to do business in The Bahamas and the “negative impact” this is having on the private sector, Mr Ingraham replied: “An emphatic ‘no’. I don’t think they appreciate this. “There is such a clear example of this close to us: The roll-out of the tax reporting portal recently. And so the tax authorities, on January 1, decided to roll-out a new reporting portal. It’s been a complete mess, OK, to put it mildly. Wouldn’t it have been better to have rolled this out softly three months ago and let people start to get used to it? “No information was given on this. There should have been training in the lead up to
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