Bahamas News
BAHAMAS: The Government Proposes a Number of Tax Relief Measures to Provide Reprieve to Citizens
#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)
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products concluded their 10 weeklong Twist To Win campaign with four $5,000 Mall at Marathon shopping sprees.
The campaign which was available throughout the entire Bahamas allowed consumers to enter by purchasing a 20oz bottle with a yellow cap
from the following brands: Coca-Cola, Coca-Cola No Sugar, Sprite, Fanta Orange, or Fanta Grape. Each yellow-cap had a unique alpha numeric code underneath which they submitted to the Twist To Win WhatsApp number.
With each qualifying purchase, participants residing in The Bahamas were entered to win instant prizes and into a grand prize draw to win one of four $5,000 shopping sprees at the Mall at Marathon.
Participants also enjoyed exciting instant prizes such as: Airpods, JBL Speakers, premium Coca-Cola merchandise, $500 Visa gift cards and Amazon, Spotify and Apple Music digital gift cards.
Out of 76,000 plus submissions, Brian Bethel, Ashia Demeritte, Merlin Adams, and Taraceta Neely won the coveted Mall at Marathon shopping sprees at the following select stores, Kelly’s House & Home, The Sports Center, John Bull, Brass & Leather, and BTC.
Leading up to the grand finale shopping spree, Coca-Cola hosted a Trivia Showdown with the eight finalists to determine the four winners. Finalists were tested on their knowledge of World History, Pop Culture, Caribbean Bottling Company and Coca-Cola Facts!
After a few rousing rounds of trivia, the four winners were declared after each winning their spot in the shopping spree by answering their questions correctly and choosing the “Grand Prize” Coca-Cola labeled bottles at random.
The morning of the shopping spree Coca-Cola gave the winners exclusive access to the Mall at Marathon and its participating stores before
their usual operating hours. Grand prize winners were greeted with wide smiles from Coca-Cola brand representatives and morning bites before the big event.
At the start of the thirty-minute clock the grand prize winners along with each of their Coca-Cola shopping assistants ran to the various stores collecting items in their arms and carts.
Merlin Adams, a husband and father of four was proud to have executed his game-plan at the end of the shopping spree. With toys, a new phone and materials for his home from Kelly’s, Adams felt accomplished in what he gathered.
Taraceta Neely, a winner from Eleuthera collected beautiful bags for herself and relatives from Brass and Leather and Brian Bethel bought matching athletic and outdoor wear from The Sports Center for his family.
The final winner Ashia Demeritte bought linens and household items in addition to a new phone from BTC right in time for Christmas.
Caribbean Bottling Company is proud to share the real magic of Coca-Cola with the grand prize winners and the may instant prize winners across the Twist To Win campaign. For more updates on new products, promotions, and events follow www.cbcbahamas.com.
Bahamas News
The Coca-Cola Art Project Astonishes Art Lovers at The Bahamas Culinary & Arts Festival
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products displayed
their astonishing Coca-Cola Art Project (CCAP), during Baha Mar’s five-day Culinary & Arts Festival. Earlier this year, Coca-Cola partnered with The University of The Bahamas’ Visual Art and Design Department for a culturally rich art competition. UB’s art students were challenged to create pieces surrounding the theme, Bahamian music.
As a result, 20 student works of art were made, with four students declared as winners at the CCAP exhibit opening in Baha Mar’s ECCHO: Art Gallery in August. To recreate the culturally stimulating magic felt at the exhibit’s premiere, the CCAP was featured at the FUZE Art Tent during The Bahamas Culinary & Arts Festival.
Nine incredible pieces of art lined the walls of the Coca-Cola Art Project, four of which included the winning pieces from Jhanaisia Cole,
with ‘Gaulin Bride’; Alyssa Pinder, with ‘Shotgun Wedding’; Nelson Gray, with ‘Untitled’; and Jaela Bowe, with the piece ‘Whims of Obeah, a Folktail’. Additionally, an intimate listening room was built. It displayed students’ artistic processes, UB Visual Art and Design representatives, and a recap of the exhibit opening for audiences.
Art enthusiasts also enjoyed premium limited-edition CCAP keepsakes at the booth. Journals which featured a collage of all 20 student submissions on the front and back cover, postcards with an art piece on the cover along with the student’s name, title, dimension and materials on the back and pens designed with the CCAP’s dynamic logo.
Throughout the art festival diverse groups of people visited the art tent taking in the displays while enjoying the artistic insights from the
listening booth.
Community and culture are always at the forefront of Caribbean Bottling Community, and it was boldly showcased during The Bahamas Culinary & Arts Festival for the third consecutive year.
For more details on the Coca-Cola Art Project, events and new products visit www.cbcbahamas.com today!
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor delighted Jollification
attendees with bubbles from their Bottega and Bouvet Ladubay sparkling wines and Besserat de Bellefon champagne lines.
Located in the Monument Circle on The Retreat grounds, CWS transformed The Retreat Garden into a lush lounge with Besserat, Bouvet and their latest product addition, Bottega, during the two-day affair.
The festivities kicked off Friday during BNT Member’s Night. Guests enjoyed exclusive offerings from CWS’s catalogue, offered exclusively to members. Complimentary mixes or glasses on the rocks included El Tequileno tequila, Hard Truth whiskey, House of Angostura rum, Cross Keys gin, Nemiroff vodka and a slew of wines such as Fonesca Bin, Bottega and Besserat.
Guests also savored the ‘Jolly Paloma’ cocktail, an instant favorite made with El Tequileno tequila, Schweppes Grapefruit and Domaine de Paris rose wine. To end the night, guests were treated to branded limited-edition wine tumblers as keepsakes.
On Saturday and Sunday, Jollification attendees delighted in glasses or bottles of champagne and sparkling brut or rosé wines while taking
in the comfort of the chic lounge. In addition to purchasing bottles for onsite consumption, consumers were also able to purchase bottles as gifts whether for themselves or someone special.
The sophisticated “bubble lounge” lounge was decked with velvet couches, gold rimmed cocktail tables, blue and pink pillows, and a white floral branded backdrop created for capturing the perfect picture.
Caribbean Wines & Spirits, a historic partner of the Bahamas National Trust was pleased to support Jollification 2025 to kick off the festive season and share their expansive range of spirits.
To keep up to date with all CWS products and events, visit their website at www.cwsbahamas.com today.
