It’s critical for the Bahamas to get off the black list and tax Bahamians and foreigners equally.

These guys advising the government not to ratify the Multinational Entities Reporting Bill are part of the problem and the past and not the future.

Why should foreigners using IBC’s be exempt from VAT, business license fees, stamp duties while hard working Bahamians have to pay these taxes?

Only a sliver of Bahamian elites benefit from IBCs while the rest of us proletariats pay through our noses.

Look at the Oban mess. These guys will pay no taxes while poluting our environment and destroying our national parks.

licks2, good to see you are actually doing some homework and arguing from a point of knowledge. Very impressive.

However, Drexel Hamilton is still not a bank, and Drexil Hamilton has still not given a loan to Oban, Drexil Hamilton is an intermediary and will need to raise the funds for the Oban project.

This means that there is no $5 billion letter of intent at present.

More importantly, no one in their right mind will lend $5 billion with no equity injection of at least 20%. So where is the $1 billion equity coming from. Who is equity guy behind this project? Why doesn't the equity guy come forward.

Also, because Drexel is a tiny firm, they then need to market to larger US firms, trust me, none of these US financial firms will touch a Bahamian project, our laws are too convoluted, and with the Baha Mar litigation no blue chip lender will come near the Bahamas. Indeed most international banks are trying desperately to get out of the Bahamas.

Last time I checked we were black listed by the EU. So an EU bank will do business in the Bahamas? I don't think so.

KP and AG Carl are going in the right direction with the implementation of the Multinational Entities Financial Reporting Bill 2018.

Please, please don't let Smittie, Alfred and the rest of these guys who were responsible for getting us blacklisted in 2000 keep us blacklisted. We need to move quickly to get off this list before the EU puts tariffs on our lobster exports.

Haven't you guys made enough money from the offshore industry over the last half a century to retire?

"A people should know when they are conquered." Quintus Maximus.

Agreed Birdie. 700 acres of crown land will be transferred to Oban. Similar to how 10,000 acres of the most beautiful land in Mayaguana was transferred to the I Group...and now lost to the Bahamian people forever.

https://www.bahamaslocal.com/newsitem/4…

Atlantis/Kerzner, Albany/Lewis and Baha Mar/Izmirilian were all billionaires and proven developers before they invested in the Bahamas. Oban? In the Guardian today it claims that Drexel Hamilton is a bank and they have arranged their financing. Drexel Hamilton is not a bank and based on their website they seem to be a small sell side stock analyst firm with now experience in large capital raising. Hmmm......

Please...can the Tribune dig a little deeper into the financing and Trust beneficial ownership structure?

...not really upset at all. just expressing my opinions.

suggest you chat with the residence of Pinder's Point and Lewis Yard on foul odors.

Well done KP!

Keep the forensic audits going. Once you expose systemic organized corruption within the public sector the funds saved will balance the budget.

I really feel sorry for the 195 attendees who actually want this oil project to succeed because they are the ones being deceived. No matter what heads of agreement the government are signs this project will not go ahead because there are no financial backers and the project is owned by a blind trust. Its just a bunch of smoke and mirrors.