"Established in November 1981, ATR is a joint partnership between two major European aeronautics players, Airbus and Leonardo."

http://www.atraircraft.com/about-atr/co…

Airbus is the controlling shareholder and inbeds its best practices and best of breed, production and maintenance policies and procedures into ATR.

ATR are first class planes. I fly Bahamasair to the islands because of the quality of their equipment and training of their pilots to world class standards. ATR/Airbus would have it no other way.

So why is Bahamasair which is owned by us the Bahamian people subjected us to lesser standards? Where are they flying these 8 planes they bought? To Cuba? To Haiti? Where? and Why.

I hate when I book my entire family on Bahamasair’s brand new European made Airbus planes to go to Long Island and then they put me on these old nasty looking planes.

While Bahamasair looses a lot of money I know thier pilots were professionally trained by Airbus to fly theses planes.

I also know that Airbus controls the maintenance of these planes to a global standard.

My heart sinks and I feel like asking for my money back and going back to my house in Nassau and not visiting Long Island.

Please please Bahamasair, stop f’ing with the Bahamian people who are paying hundreds of millions in taxes to support your operation.

Hi John, stock market futures are indicating another record breaking day to the upside.

Probably advisable if you don't have a loan to self insure your home by (1) increasing your savings and (2) doing all structural repairs to your home.

The cost of insurance and the high deductible has already put it out of reach of most Bahamians.

The vehicle third party fire and theft is a complete waste of money.

Alibaba the Chinese internet giant and one of the largest companies in the world by market cap is domiciled in Cayman.

Indeed most multi jurisdictional asset managers have long since redomicled their software input vendors out of the Bahamas, such as Bloomberg since the advent of VAT. Most are now safely in Cayman.

Our dumb dumb politicians recognize that financial services is dying but are clueless as to how to rectify it.

I’m actually shocked that the VAT enforcement unit hasn’t collapsed Bruce’s structure for tax purposes as “mind and management” is still in the Bahamas.

Most clients would have physically moved to Cayman before the VAT enforcement unit shuts down their international structure.

If VAT doesn’t get you the archaic exchange control laws will sooner or later block this Bahamian from countined success.

Yes, let’s just issue a bunch of work permits to foreigners to increase economic activity benefiting the monopolies (and a dozen Bay St and Sunshine families) such as the container port, oil imports, big box retail, government, bec, btc/Cable and the bank cartel.

I maybe black and Bahamian but not as dumb as you tink I is.

Tal you are spot on. Foreigner's will now be able to come into the Country without expressly issued work permits just because the Ministry of Immigration will never be able to issue anything in 14 days. No need for business licenses either.

Insanity is doing the same thing over and over and expecting a different result. When was the last time a foreign investment made the Bahamas better? Freeport? Baha Mar? Our Lucaya? Container Port?

Letting in thousands of foreigners will only increase the deficit because we don't have income tax. The foreigner will be using more BEC, more Water and Sewerage, more government services, more PMH for their servants (no need for them to get health insurance - PMH is free to all), more roads, more Haitians, more Bahamasair....all of which will blow the deficit wide open.

In case anyone is keeping track the deficit is increasing at a rate of $1 billion a year.

If I were a foreigner I would come to the Bahamas as well. With no income tax and subsidized electricity, water, no licenses, no regulation, open up whatever business I like, take all the fish from the ocean and have utter contempt for Bahamians.

MadHatter, to the contrary. Once the bill passes even more files will be lost. In that way even more foreigners will be allowed in the Country without a formal work permit and compete against Bahamians in industries that were previously reserved for them. What makes you think that the PLP has a monopoly on lost Immigration Files or the FNM is as clean as the driven snow?

BahamaPundit, my points are valid and not a pile of crock. Please read the comments from the Bahamas Chamber of Commerce published in the Nassau Guardian this morning. Small mutual fund administrators, specialty healthcare, import/export clearing companies, equipment rental can now all be "automatically" work permitted after 14 days of not hearing from the Immigration Department.

Bahamapundit, you also don't seem to care that Bahamians are hamstrung from unencumbered access to global capital markets in order to even compete with the foreigners who are not impacted by exchange controls. But then again, like a said....the bill is made by a self serving government. The PLP is no different.

https://thenassauguardian.com/2017/11/2…

The FNM should hold their heads in shame for passing the Commercial Enterprises Bill.

This bill will greatly benefit foreigners with only a "trickle down" impact for Bahamians. It may benefits the blue collar trades but professionals will be negatively impacted.

It will allow in much more well capitalized foreign competition for Bahamian small businesses. Already I am seeing foreigners buying up middle class homes and putting them on rent with Air B&B, I thought the guest house industry was reserved for Bahamians. They are even renting cars connected with their real estate investments. The foreign yachts are for all intensive purposes fishing vessels competing with local fishermen. There are few properties left for Bahamians to rent and the banks are not lending for purchases. Foreigners are also in most blue collar trades where ever you look in the Bahamas.

Due to our poor education system Bahamian are not even educated enough to be competitive. The government is clueless and being lead by foreign interests. What ever happened to the economic impowerment zones for Grant's Town that was promised by the FNM. What ever happened to free University of the Bahamas education? What ever happened to universal healthcare?

Through antiquated exchange control laws Bahamian businesses and investors are essentially shut out of the international capital markets (be it for loans or investing in the greatest global bull market which is currently ongoing).

Don't be fooled. There is lots of money and capital in the Bahamas, if only because of our proximity to the US. Its just that little of it is going to the middle class. The current beneficiaries are the Bahamian Government (through taxes and work permits), the Chinese through capital investments (Baha Mar, Container Port, Freeport Hotels), the Webshops (praying on false promises to those most at risk), the Bay Street boys, independent Churches (no accountability), liquor houses and the oil import monopolist.

No use changing back to the PLP. They are even worse than the FNM as they sold out completely to the Chinese and the webshops (against the will of the people). The government is basically self serving and doesn't care for its people.

Like Turnquest, McCartney's comments on corporate income tax are unhelpful because they are vague and lack specific objectives to grow the economy. Investors will be alarmed and act accordingly by shifting their assets to a more regulatorily and fiscally certain jurisdiction. The PLP government had a similar approach with the implementation of VAT. Higher taxation (income tax) under the FNM will lead to further economic decline. Go to Freeport and you will see most businesses have already been shut down. Webshops and liquor outlets abound.

The FNM should look carefully at the tax reforms being undertaken in Argentina by the Macri administration for a road map. Argentina's objectives are clearly defined: "The aims of the reforms include reducing tax distortions, making the tax system more equitable, promoting investment and labour formality and reducing overall tax pressure. Achieving this last goal will be particularly tricky, considering that the government is at the same time trying to narrow the fiscal deficit to put the public finances on a stronger footing. By placing investment promotion at the centre of its tax proposals, the government hopes that a resultant increase in economic activity will produce a reform that is closer to revenue-neutral (Economist Intelligence Unit - Nov 6, 2017).

Argentina clearly wants to align its tax policy to be investment stimulative and not just to raise revenue (which was the only goal of for VAT in the Bahamas) and in the process it destroyed small businesses and caused inflation to spiral. "The centrepiece of the reform (in Argentina) is a series of tax cuts on companies intending to raise investment. Most importantly, the corporate income tax rate is to be reduced from 35% to 25%, as long as profits are reinvested. If they are not, a 10% tax on distribution of dividends will be applied. The government is also seeking to gradually reduce distortionary taxes, including a tax on bank debts and credits, along with provincial taxes such as the turnover tax and stamp duty."

One can only hope but in the mean prepare your capital exit plans. Like VAT, income tax and a floating Bahamian dollar (at 80 cents) maybe here sooner than you think.