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Bahamas Government’s structure of taxation is antiquated and inadequate to meet the needs of modern governance

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#Nassau, June 23, 2018 – Bahamas – Acting Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest said in The Bahamas, the government’s very structure of taxation is antiquated and inadequate to meet the needs of modern governance in the 21st century.  A tax system with traditionally heavy reliance on customs duties and, more recently, excise taxes that apply solely to goods is clearly deficient in a world where services have come to dominate goods in terms of relative economic importance, the Acting Prime Minister said.

He was speaking at the Institute of Chartered Accountants of the Caribbean’s 36th Caribbean Conference of Accountants held at Atlantis, Friday, June 22, 2018.

Acting Prime Minister Turnquest said countries in the Caribbean region have traditionally relied on import duties as the main source of revenue.  However, he said the development of the CARICOM Common External Tariff (CET), and global trade liberalization, more generally, have convinced the region to shift towards domestic revenue sources, such as value added tax.

“The introduction of VAT has been the most important reform of the regional tax system, according to the International Monetary Fund (IMF).  The IMF has further shown that VAT is considered the best instrument to replace a myriad of inefficient taxes, broaden the tax base, and generate a stable source of revenue for governments across the region.”

The Acting Prime Minister said with the introduction of VAT in January 2015, the Government correspondingly reduced its dependence on revenue from customs duty and excise taxes.  He said today, VAT accounts for 40 per cent of total revenue, while trade taxes contribute 24 per cent towards total revenue.  Prior to the introduction of VAT,trade taxes accounted for well over 50 per cent of revenue.

Acting Prime Minister Turnquest noted that for a long time, The Bahamas was able to coast along with a tax structure that essentially hid the taxes from consumers.

“When you buy anything in The Bahamas, that item might have a 45 per cent or 65 per cent customs duty hidden in the cost of goods sold.  We all know it is there, but it feels benign as this form of indirect tax is not disclosed at the point of purchase like value added tax; it does not come off your pay check like an income tax; and it does not skim off your profits like a corporate tax.”

He explained that governments, in the past, could raise duties as much as they felt like, with minimum protest and complaint because those taxes do not show up on bills.  They are hidden.  Individuals only feel them in an abstract way, knowing that the relative cost of living in The Bahamas is high.

He said earlier this week, when Prime Minister, Dr. the Hon. Hubert Minnis concluded the budget debate in Parliament, he spoke about these hidden taxes and how they are largely responsible for making goods so expensive in The Bahamas.

The Acting Prime Minister said the old structure that was reliant on trade taxes was also responsible for Bahamians being so resistant to the idea of direct taxation.

“As a culture, we are not used to this form of tax, and our companies are not used to the financial scrutiny and discipline that is demanded by a more robust tax system.

Acting Prime Minister Turnquest said, “The introduction of VAT at 7.5 per cent in FY2014/15 forced many companies to adapt.  It forced all Bahamians to adapt.  Notably, we did so with minimal disruption, and I am confident we will similarly survive the 4.5 per cent increase that was initiated by the new budget.”

 

By: Llonella Gilbert (BIS)

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CIBC Caribbean Celebrates 2026 Unsung Heroes Finalists

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Nassau, Bahamas, 22 September 2026 – Six Bahamians whose service is making a difference in communities across the country were recently celebrated by CIBC Caribbean as the bank brought together its top 2026 Unsung Heroes finalists for a special recognition event.

The 2026 finalists were Kristin Butler-Beneby, Dinola Williamson, Amanda Knowles, Tamara Clarke, Ruth Fawkes, and Jaquay Adderley.

During the event, CIBC Caribbean also announced Dinola Williamson as the first runner-up in this year’s program. Williamson is an educator and community activist who has spent more than two decades in education and leads the Family Better Together Kabbalistic Kids Club. Her community work has reached children in Englerston, Fox Hill, Acklins, Crooked Island, and Grand Bahama through mentorship and activities designed to support their holistic development.

CIBC Caribbean Head of Country Terrance Gibson said the gathering was intentionally focused on celebrating the collective impact of the finalists.

“Unsung Heroes is about recognizing the people who may not always receive the spotlight, but whose commitment is felt every day in the lives of the people and communities they serve,” he said.

“While Kristin emerged as our 2026 Unsung Hero, and Dinola as our runner-up, each nominee represents the spirit of this program. They saw needs in their communities and made the decision to act, to serve, and to keep showing up. CIBC Caribbean is proud to recognize them and to help bring greater attention to the work they are doing.”

The recognition event also brought together members of the judging panel who reviewed this year’s nominations and selected the program’s honorees. The panel comprised Olympic gold medalist Tonique Williams, Bahamas Red Cross President Edison Sumner, Guardian Lifestyles Editor Shavaughn Moss, and Organization for Responsible Governance Executive Director Matt Aubry.

During the event, each finalist spoke about the community work that led to their nomination. The judges were also recognized for lending their time and expertise to the selection process.

Gibson added, “Recognition is important, but we also hope that sharing these stories encourages others to look around their own communities, see where they can make a difference, and act.

“Our Unsung Heroes remind us that meaningful change often begins with an individual who simply decides to help.”

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Public Hospitals Authority Foundation Donates Dialysis Machines to Princess Margaret Hospital (PMH)

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The Bahamas, September 21, 2026 – The Public Hospitals Authority (PHA) Foundation, a philanthropic organization launched in January 2024 to support public hospitals and healthcare clinics, donated eight additional dialysis machines for the PMH Renal Services unit.

Director of Foundations, Corporate and Community Relations for the Public Hospitals Authority and Executive Director of the foundation, Alana Major, said this initiative is a part of the foundation’s “Sun, Sea and Second Chances” campaign.  PHA Foundation aims to secure 30 machines for Princess Margaret Hospital.

“As of today, with this donation, we are now up to 15 machines, so we are very excited about that,” Ms. Major said.

Other members of the foundation were present, including PHA Foundation Chairman Mr. Selvin Basden, who said the foundation is committed to doing its part in fulfilling the mandate of the Government of the Bahamas.

“One of the tenets of the Government is to ensure that access to healthcare is a human right. We are committed to ensuring that, at least from our part, we can deliver on that principle,” Mr. Basden said.

The PMH Renal Services Unit dialyzes about 150 to 170 patients annually. The unit provides care for patients who have been diagnosed with end-stage kidney disease and now need renal support. Patients who receive dialysis typically come to the unit three times a week, either on a Monday-Wednesday-Friday schedule or a Tuesday-Thursday-Saturday schedule.

Head of Department for Renal Services, Dr. Thurston Carroll, said she and the unit are excited to receive the donation, as it will replace machines that are not operating optimally.

“We are particularly excited about today’s donation because, although we have 20 stations within the dialysis unit, we have an aging fleet. These new machines and new water-treatment equipment will allow us to replace some of our aging equipment so that we can continue providing services to our patients.”

Foundation representatives noted that one or two organizations are already considering making bulk donations and if it happens, the foundation may be able to secure another 10 machines or another five machines in the very near future.

PMH Deputy Hospital Administrator Angelica Lockhart-Bastian and Hospital Administrator Mr. Tevard Bastian thanked the PHA Foundation for its donation to Princess Margaret Hospital.

Also in attendance were PHA Foundation Deputy Chairman Dr. Erecia Hepburn; Foundation guest Dr. Maria Oriakhi; Chief Biomedical Engineer Mr. Theodore Nottage; Administrative Officer Ms. Appapisa Neely; and Senior Assistant Hospital Administrator Mr. Valdez Bowe.

 

By Christina Williams 
Bahamas Information Services

BIS Photos/Mark Ford

PHOTO CAPTION:

Group Photo, from left:
– Dr. Rhea Thurston Carroll, Director, Renal Services, PMH
– Nurse Kim Harris, Dialysis Nurse, Dialysis Unit, PMH
– ⁠Sister Darnell Roker, Nurse Manager, Dialysis Unit, PMH
– Mrs. Angelica Lockhart-Bastian, Deputy Hospital Administrator PMH
– Mr. Tevard Bastian, Hospital Administrator PMH
– Mrs. Alana Major, Director, Foundations, Community and Corporate Relations, PHA
– ⁠Mr. Selvin Basden, Chairman, PHA Foundation
– ⁠Dr. Erecia Hepburn, PHA Foundation Board
– ⁠Ms. Donette Danvers, Executive Assistant, Foundations, Community and Corporate Relations, PHA

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Romer Receives Regional Leadership Award

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Miami, Florida – Director of Aviation and Deputy Director General of Tourism, Dr. Kenneth Romer was presented with The 2025-2026 Infrastructure Leadership MVP Award, during the 10th Annual Caribbean Infrastructure Forum (CARIF) held in Miami September 15-16, 2026.

According to event organizers, New Energy Events, the MVP Leadership Award is the highest individual honor in the industry and is presented to an individual who has demonstrated exceptional, strategic and visionary leadership in advancing infrastructure in the Caribbean. Chosen by an independent jury of regional industry leaders, “The recipient is recognized for their sustained impact, influence across sectors, and dedication to driving meaningful progress in policy, investment, or project delivery”, said Event Organizers.

Romer becomes only the third person from the Region, and the first from The Bahamas to receive the Leadership MVP Award, joining last year’s winner The Honourable Mia Mottley, Prime Minister of Barbados.

Represented among the Conference Speakers and present at the Award Ceremony was Minister of Energy, Utilities and Aviation, The Honourable JoBeth Coleby-Davis, who said that, “This award amplifies The Bahamas Government’s commitment to executing a vision that sets the benchmark for infrastructural investments opportunities across our archipelago while supporting exemplary Bahamian leaders like Dr. Romer, who are steering the Caribbean toward more resilient, investable, and innovative infrastructure”.

“While this award is deemed an individual honor, it is a recognition of the Bahamas’ position as a respected regional leader and more so, a reflection of the incredible talent that resides within our small, but indomitable nation that continues to punch above its weight class as the world marks the manner of our bearing”, said Dr. Romer.

Dr. Romer has been instrumental in driving post-pandemic tourism recovery alongside the transformation of airports across the Family Islands through the Government’s landmark Family Islands Renaissance initiative. Under his leadership as Director of Aviation and Deputy Director General of Tourism, the sector has embraced a strategic, forward-looking approach focused on modernizing over 19 runways and terminals, strengthening safety and resilience, expanding international and regional connectivity, and leveraging public-private partnerships to deliver world-class facilities.

Dr. Romer’s work has helped translate the National Aviation Strategic Plan into tangible infrastructure projects that are creating new opportunities for tourism, investment, entrepreneurship and economic growth across the archipelago.

In 2025, he became the first person from the Caribbean and LATAM Region to be appointed to the Board of the International Association of Airports Executives.

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