Pike and da Snake dem gonna run through Island Grid's $130m capital raise quick quick.

... between da PLP Duty, Vat and Vat on Duty, UBP Arawak Port monopoly cost, da Snake gas, shrinkage, BEC, BPL and Pike management fees, shrinkage, incompetence we better pray ain no hurricane come.

... i count about a dozen ppl tryin to fix dis pole.

SunOil will soon have a monopoly in gasoline retail. As it has a monopoly in oil imports, electrical generation and the electrical grill.

Get ready for even higher electrical bills and gas prices. It will be gradual but certain.

Those who can afford to go solar need to start now. Including electrical cars plugged into your solar panels.

Unfortunately solar systems are costly and the monopolist and their facilitators know this.

The government should be audited to the same standard they are forcing business with gross turnover above $5m.

Best practices mandates accrual accounting. Has done for centuries.

“…. expatriate workers will lead electrical upgrades"....

speaks volumes of how dumbed down we Bahamians have become.

we can’t even do electricity anymore

and reverse osmosis water plants run by foreigners are not working in some family islands.

the entire infrastructure, light, water, cable, schools, airports, banking, taxing, crime has failed.

"People should know when they are conquered." Quintus. "Would you, Quintus? Would I?" Maximus.

From the movie Gladiator.

I feel sorry for this reporter. Any business license, national insurance, national health, town planning permits, Vat returns, drivers licenses, import customs duties, government contracts, real property taxes, bank accounts gonna get mess right up.

This is what the negro means by “I will walk out here and wait for you".

Y’all need to shut and pay ya taxes because we all touchable by dis set of ppl. You need to be foreign to get any crumbs in dis country.

Well written article.

The 15% corporate income tax will lead to a further flight of offshore businesses especially holding company IBCs, hedge funds, family offices, international booking centers, shipping and will lower the price for businesses already clamoring to leave the Bahamas like CIBC and Atlantis.

I would be shocked if the amount collected would surpasses $10 million but $140 million is pure fantasy. Everyone will now be jurisdiction shopping.

Competitors like the BVI are widely consulting all industry partners and have concluded that "one size does not fit all".

I hope Brave isn't depending on this to balance an already terribly unbalanced budget.

I truly doubt Atlantis makes any money to begin with. It is a capital play...always being sold on the basis of real estate values and inflation .... higher and higher until the bubble pops.

Think of it this way. If you had a spare $2 billion would you buy Atlantis and have to deal with BPL, Water and Sewerage, competition of a new cruise port on Paradise Island disrupting your beach, trade unions, staff with basic skill deficiencies, Cable/BTC, annually changing tax regimes, crime and traffic jams?

Major multi-nationals will be even more reluctant to do business in the Bahamas for fear of having to divulge their global finances to the Bahamas government. Once they see the financials of these mutli billion dollar global businesses they are gonna want to tax them like locals.

Stop the tens of thousands work permits and we will be forced to be more efficient and hire Bahamian.

Continue issuing work permits and the crime will not stop...as detailed in the article.

No amount of prisons or resolve to stamp out crime can hold back generation after generation being born into poverty and hopelessness..

Correct ….

There is zero political or economic benefit for the government to implement this.

The electorate is so uneducated they don’t even know what it is.

The Bahamas Govt Benchmark US$ 2032 8.95% bond is almost back to trading on par and the international markets will soon be giving us more money.

Bahamian B$ are trapped in the Bahamas proving a cheap source of government financing.

The IMF, World Bank are bending over backwards to “lend us money”.

Foreign investors don’t careless about the FOIA.

Foreigners are overjoyed that taxes are going up rapidly on Bahamians to repay them in US$.

Canadian banks are making record profits while paying Bahamians 0% interest with horrific survive and dividending all profits out of the country.

Our foreign reserves at US$2.6 billion are really comfortable to pay all foreign obligations.

Late the deals continue

Great point John.

When I was in business the Big 4 accounting firm asked us if we could change our year end to June 30 so we don’t collide with the financial institutions December 31 year end. The auditors called it their “busy season”.

We also need to align our year end with our foreign partners.

The choice of year end was driven be business considerations. Not taxes.