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BAHAMAS: Illusion of The Bahamas being a tax-free place will no longer be sustainable

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#Nassau, June 23, 2018 – Bahamas – Acting Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest said the illusion that individuals had of The Bahamas being a tax- free place will no longer be sustainable.

“I can speak to just one reason why, which is the deliberate restructuring of the country’s tax system,” the Acting Prime Minister said at the Institute of Chartered Accountants of the Caribbean’s 36th Caribbean Conference of Accountants held at Atlantis, Friday, June 22, 2018.

“As a government, we are moving away from narrow-based and distortionary taxes so we can achieve the following objectives:

1)    Broaden the tax base by including taxes on services, which is what VAT accomplished;

2)    Explore possible replacements to the business license fee structure, which we started to do by commissioning Deloitte to undertake a detailed assessment;

3)    Reduce customs duty over time, as we move towards participation in the World Trade Organization; and

4)    Optimise the rating scale for a number of existing taxes and fees, particularly where the fees do not cover the cost of operations, and where our revenue yield is below standard.”

The Acting Prime Minister said when it comes to restructuring the tax system, the bottom line for accountants is that as the country gets into a more complex tax environment, which is already underway, the demand for their expertise is going to be even greater.  He said businesses and individuals will need their knowledge, as will the government.  Opportunities will abound in traditional areas and niche segments.

Acting Prime Minister Turnquest said in the public sector alone, the government is already recruiting Bahamian professionals to work as VAT auditors.

“The government has outsourced VAT auditing to an international team ever since VAT was introduced.  We fly them in quarterly at great expense o stay for several months at a time to conduct spot checks on VAT registrants, of which we have over 6,000.  For the first time, we have implemented a strategic plan for the government to transfer those responsibilities to Bahamian professionals.”

He said over the next few years, the government will transition to a full team of Bahamian VAT auditors, creating new career paths for Bahamian professionals.

Acting Prime Minister Turnquest said between the demand for VAT auditing and VAT accounting the government is creating new sub-sectors of opportunity for Bahamians.  “And as we continue our tax reform plans, tax accounting and tax auditing on the whole will expand.”

He said the Ministry of Finance is currently recruiting 30 accountants: 15 of them will support the needs of the Central Government as it transitions to accrual accounting and undergoes public financial management reform; 15 of them will be trained specifically to join the VAT audit team.

The Acting Prime Minister said, “The government has already bolstered the Treasury Department by recruiting 10 junior accountants. And a few senior professionals will also be brought on to assist with the broader restructuring that is underway.”

 

By: Llonella Gilbert (BIS)

 

 

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Bahama Brass Band Invitation Sparks Heritage Debate Ahead of TCI Constitutional Holiday

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Turks and Caicos, August 20, 2026 – The planned participation of the Bahama Brass Band in the Turks and Caicos Islands’ inaugural Constitutional Holiday celebrations on August 30 has sparked public debate over culture, heritage and the historical contributions of Turks and Caicos Islanders abroad.

Organizers defended the invitation, saying the band’s inclusion is intended to highlight the deep historical ties between the two countries and honor Turks and Caicos men who helped establish and develop the institution in Grand Bahama.

According to the organizers, the Bahama Brass Band began in 1955 in Pine Ridge, Freeport, with Turks and Caicos Islanders, including the late Deacon Reuben Hall Sr. of Middle Caicos and Jenkins Williams and Mervin Hendfield of North Caicos, among those who helped build its foundation. The band eventually grew to more than 50 men.

The organizers also pointed to the participation of Turks and Caicos men in The Bahamas’ Independence celebrations on July 10, 1973, arguing that their contributions became part of Bahamian history while maintaining strong connections to their homeland.

Supporters say bringing the band home represents an opportunity to honor those pioneers, showcase their regional influence and expose younger generations to an important part of Turks and Caicos history.

However, concerns raised publicly described the invitation as potentially disrespectful to local culture and heritage. Organizers acknowledged those concerns, apologizing to anyone who felt overlooked or offended, while maintaining that no disrespect was intended.

The committee said the event should ultimately unite rather than divide, presenting the band’s history as evidence of the reach and resilience of Turks and Caicos heritage.

PHOTO CREDIT: Bahamas Brass Band

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CBC Supports Opportunities for Young Bahamian Basketball Players

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Dasani products, proudly sponsored the fifth annual, Caribbean Hoopfest.

The tournament brings together Bahamian high school basketball teams and visiting teams from the United States for a competitive showcase at the Kendal G. L. Isaacs Gymnasium.  Following its inaugural year at the Kendal G. L. Isaacs gym and last year’s event at Loyola Hall, the tournament returned to the Kendal G. L. Isaacs gym this year.

During the weekend tournament, CBC kept athletes well hydrated with in-kind donations of Dasani Water, Powerade and Minute Maid Juices.

During the tournament’s final day, CBC provided additional support by offering Sprite No Sugar samples and inviting attendees to participate in its Spin the Wheel for a chance to win exciting prizes.

CBC was proud to support this incredible event, which provides young Bahamian athletes with valuable exposure to U.S. basketball scouts and coaches. This opportunity gives them the chance to earn scholarships, continue their education, and pursue their basketball careers in the United States.

Event organizer, Donald Francois shared his appreciation for CBC’s support.

“I want to express our sincere appreciation for Caribbean Bottling Company, who has been a tremendous supporter and an important part of the success of our program. Without CBC’s support, Caribbean Hoop Fest would not be able to function at the level it does today. And without Caribbean Hoop Fest, we would not have been able to provide the opportunities that have helped young Bahamian athletes gain exposure and pursue educational opportunities in the United States,” he expressed.

Since the program’s inception, several Bahamian student-athletes have been selected for scholarship opportunities, highlighting the tournament’s growing impact on the development and advancement of young basketball talent in The Bahamas.

They are: Kelvin McDowells – Guard, Wodson Antoine – Power Forward, Justin Lafleur – Guard and Sean John – Guard.

After another successful edition of the tournament, Francois shared what he hopes he and Caribbean Bottling Company can achieve in the future.

“Our vision is bigger than basketball. We want to use the platform of Caribbean Hoop Fest to educate, develop, and create opportunities for young people and their families throughout the Bahamas. With individuals and organizations committed to our mission, we believe we can continue to grow the program and make an even greater impact,” Francois said.

For more details on community support, events and new products visit Caribbean Bottling Company at www.cbcbahamas.com today.

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More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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