Connect with us

Bahamas News

BAHAMAS: The Government Proposes a Number of Tax Relief Measures to Provide Reprieve to Citizens

Published

on

#Nassau, May 30, 2019 – Bahamas – The Government has proposed a number of tax relief measures to provide some reprieve to all citizens and to encourage economic activity by making the import of certain items relatively cheaper, thereby comparatively easier for persons to enter existing markets and, in some cases, create new ones.

Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest listed the tax relief measures during the Budget Communication 2019/20, in the House of Assembly, Wednesday, May 29, 2019.

DPM Turnquest explained that there will duty reductions worth $28 million in revenue. “In an effort to rebalance the tax burden between the provision of goods and services and reduce the attendant distortionary impacts, we are beginning to make good on our commitment to reduce duty and excise rates over the next three years.

“To that end, we will, at this time, adjust the duty on selected frequently imported items. Generally, the focus of these reductions is around educational supplies and equipment, and household implements and goods. These items include:

·   Home Refrigerators of 18 cubic feet or smaller (to become duty free)

·   Home Stoves that are 30 inches wide or smaller (to become duty free)

·   Garbage Can Liners (from 45 per cent to 25 per cent)

·   Fire Extinguishers (from 45 per cent to free)

·   Flashlights (from 45 per cent to 25 per cent)

·   Pens (from 10 per cent to free)

·   Pencils (from 10 per cent to free)

·   Crayons (from 10 per cent to free)

·   Sharpeners (from 45 per cent to free)

·   School Rulers (from 10 per cent to free)

·   Chart Paper (from 20 per cent to free)

·   Projectors (from 45 per cent to 35 per cent)

·   Projector Screens (from 45 per cent to 35 per cent)

·   Radios (from 45 per cent to 35 per cent)

·   Pots/Pans (from 45 per cent to 25 per cent)

·   And all Household Furniture (from 45 per cent to 25 per cent)

The Government has also reduced the duty from musical instruments; allowed trailers for commercial fishing boats to be eligible for duty exemption and amended the Spirits and Beer Manufacture Act to reduce the minimum bushel requirement for production, to now make microbreweries eligible for import duty concessions.

The DPM explained, “You would recall that the government earlier in the fiscal year increased the VAT zero-rating on Light Bills from those under $200 to those under $300. It was approved as a temporary measure that was to expire at the end of June.

He added, “I am pleased to advise that this higher ceiling has been made permanent, and customers will continue to enjoy VAT zero-rating on electricity bills under $300. Water Bills under $50 per billing cycle will also continue to enjoy VAT zero-rating. I can also announce today Mr. Speaker that as of March of this year over 23,500 households have benefitted from this elimination of VAT from these utilities.”

Environmental Protection and Advancement

DPM Turnquest also explained that to advance the Government’s commitment to environmental sustainability, it has tailored several measures in the 2019/20 Budget with an aim to not only protect the environment, but also to increase environmental awareness across all islands.

In addition, he stated that the measures aimed at environmental purposes are in line with the Government’s planned ban on plastic by January 2020. These measures include:

Reducing the duty on new vehicles between 1.5 liters (1500cc) and 2.0 liters (2000cc) valued at $50,000 or less from 65 per cent to 45 per cent. In this context, only cars with less than 200 miles on the odometer will be considered ‘new’. This makes smaller, more fuel-efficient vehicles more affordable.

Harmonizing the rates on all new electric and hybrid vehicles valued up to $50,000 to 10 per cent. It should be noted here that this measure will have a sunset clause of five years, after which this special revision will revert closer to the rates for other small size vehicles.

Increasing the duty on biodegradable and compostable plastic shopping bags, from five per cent to 45 per cent; but at the same time, reducing the duty on reusable cloth shopping bags from 30 per cent to 5 per cent.

Banning the use of selected single-use plastic bags, plastic food utensils, and Styrofoam food containers by January 1, 2020.

By Llonella Gilbert

Photo Caption: Parliamentarians walked from Churchill Building, across Rawson Square to the House of Assembly for the Budget Communication, today, led by Prime Minister, the Most Hon. Dr. Hubert Minnis, centre, and next to him Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest (with the Budget document in briefcase).  DPM Turnquest highlighted the government’s proposed tax relief measures to provide some reprieve to all citizens during this Budget 2019/20 presentation in the House of Assembly, May 29, 2019.   

(BIS Photo/Patrick Hanna)

Continue Reading

Bahamas News

Ayla Isaacs Unveils Transformative Guide Amidst Challenging Times

Published

on

Bahamian author Ayla Isaacs is making an impactful debut in the literary world with her book, “Achieving Optimum Spiritual Health—Transforming Your Wellbeing With Diet, Exercise, and Rest.” As crime rates surge and the aftermath of the pandemic leaving many grappling with hopelessness and a sense of abandonment, Isaacs’ guide offers a beacon of hope and a roadmap for personal transformation, emphasizing the importance of prioritizing spiritual resilience in navigating adversity.

Long-time Bahamian physician Dr. Horizal Simmons says, “Ms. Isaacs not only states the spiritual ingredient that we should use for our therapy, but she also explains how it works in our spiritual system and the beneficial changes that will bring the desired transformation or spiritual health benefits.” Applauding the soundness of the book and paralleling it to physical wellness, Dr. Simmons said he highly recommends it to anyone serious about their spiritual well-being and health.

Isaacs is a highly experienced Project Manager who draws from her background in Civil and Environmental Engineering, International Business, and Christian ministry, whether a physical structure or the wellbeing of an individual’s life. Her published work shows that she strongly believes in building with structural integrity. Isaacs provides readers with a holistic approach to welfare beyond traditional self-help. She explores the transformative power of simple spiritual practices integrated into daily life. Isaacs believes that prioritizing spiritual health can help individuals find inner fulfillment and a sense of purpose, which she believes are essential in combating the prevailing hopelessness.

Coach Gregory Cash, who has spent decades helping to develop great athletes and leaders in the country, believes the unique perspective shared, especially relating to spiritual exercise, can touch the hearts of so many. Wendy Fernander, PhD., a licensed clinical psychologist and president of the Bahamas Psychological Association, noted that too few of us think about our spiritual diet, which results in our spiritual wellbeing. When asked about the book, Dr. Fernander said, “This book will provoke you to do serious soul searching.”

Amid the challenges communities face, Isaacs encourages readers to initiate a positive “me” movement—a focus on self-improvement that, when embraced collectively, can lead to stronger families, churches, and nations. According to Isaacs, strengthened individuals become catalysts for positive change within their immediate circles, creating a ripple effect that extends to broader communities.

Ayla Isaacs, whose roots go back to South Eleuthera, is a founding member of the Smart and Strong Sisterhood (SASS) and the creative mind behind A.I. Paper, a gift-wrapping paper and bag company that celebrates the islands of The Bahamas. Isaacs believes that investing in spiritual wellbeing is pivotal for personal growth and resilience. A conference speaker who is actively involved in church ministries and affiliated with several civic organizations, Isaacs firmly believes in the balance between personal and community wellbeing.

“Achieving Optimum Spiritual Health” is now available on Amazon.com and BarnesandNoble.com in paperback and eBook form and locally at Oasis Bookstore in Nassau. Isaacs encourages readers to embark on a transformative journey and be architects of their spiritual wellbeing. In times of uncertainty, “Achieving Optimum Spiritual Health” offers a guide and a message of hope and empowerment for individuals seeking personal and communal transformation.

Continue Reading

Bahamas News

Tired of Taking Notes? The new Samsung Galaxy S24 Will Transcribe and Summarize Your Voice Notes In A Snap! 

Published

on

 

NASSAU, Bahamas – Faster, smarter and more convenient than ever before, the new Samsung Galaxy S24 will revolutionize your productivity with its new Transcript Assist and Browsing Assist features. In the continuous pursuit of delivering innovative solutions that enhance productivity and user experience, Samsung Electronics is proud to introduce two groundbreaking features: Transcript Assist and Browsing Assist.

The Transcript Assist feature, powered by Galaxy’s advanced artificial intelligence, takes note-taking to a whole new level by enabling users to easily convert voice notes and conversations into useful and accessible notes. Whether in a business meeting, conference, or casual conversation, the Galaxy S24’s Transcript Assist makes capturing information easier than ever.

By utilizing Transcript Assist, users can effortlessly record any conversation with multiple speakers and transform it into a clear and concise transcript with just a few taps. This feature is particularly useful for those who need to keep a detailed record of discussions and decisions made during important meetings or collaborative work sessions.

“With Transcript Assist, we’re redefining the way people take notes and record information,” said Gianmarco Leri, Product Manager at Samsung Electronics. “No longer do you have to worry about missing important details during a conversation. With the Galaxy S24, you can capture every word and turn it into a useful reference that you can easily review and share.”

In addition to generating accurate transcripts, the Transcript Assist feature also offers the ability to generate quick summaries of conversations, as well as the option to translate the entire transcript into different languages, facilitating communication and collaboration among people from different regions and cultures.

On the other hand, the Browsing Assist feature allows users to navigate more efficiently and conveniently on their Galaxy S24 devices by providing intelligent and contextual suggestions during web browsing and online content exploration.

The Galaxy S24, equipped with Transcript Assist and Browsing Assist, marks the beginning of a new era of productivity and convenience in mobile devices. These innovative features demonstrate Samsung Electronics’ continued commitment to providing advanced tools that help people achieve their goals more effectively and efficiently in everyday life.

So, get ready! The new Samsung Galaxy S24 will be coming soon to tech stores in The Bahamas soon.

Continue Reading

Bahamas News

Weather Systems Affect Cuba and The Bahamas

Published

on

Rashaed Esson

Staff Writer

#Weather#Cuba#TheBahamas, March 25th, 2024 – Serious weather struck The Bahamas and Cuba over the weekend, both nations receiving warnings from their meteorological entities. The Bahamas was affected by severe thunderstorms.  In fact, an area of the Carnival Freedom Cruise Ship, which was 20 miles off Eleuthera, Bahamas, caught fire and reports say it was possibly due to a lightning strike.  Fortunately no lives were reported lost.

Meanwhile, Cuba had intense rainfall and hailstorms, resulting in damage to surrounding areas, thousands left without electricity amid fallen trees and Flash Floods.

 

Continue Reading

FIND US ON FACEBOOK

TRENDING