The Bahamas Government has legislated for a new property tax amnesty, which encourages taxpayers to join the property tax registry and settle any outstanding tax dues.

Under the terms of the amnesty, persons with residential or commercial property valued at over BHD250,000 (USD250,000), and with tax arrears dating back no more than three years, must make a declaration and full payment by June 30, 2013, to benefit from a 50% waiver of the total tax due and the total surcharge payable.

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NASSAU, Bahamas, March 12, 2013 /PRNewswire/ — The perfect mix of relaxation and adventure await in The Islands Of The Bahamas. Travelers can now can take advantage of The Islands Of The Bahamas Instant Savings Offer from participating Florida airports onboard Silver Airways.

From now through March 20, 2013, Silver Airways passengers who book Abaco, Bimini, Eleuthera, Exuma, and Harbour Island air-inclusive packages of six nights or longer to participating resorts in The Out Islands are eligible to receive $300 instant savings for travel through August 31, 2013. Travelers looking for a quick getaway will qualify for $200 instant savings on three, four and five night packages.

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Here follows Her Majesty Queen Elizabeth II Head of the Commonwealth’s annual Commonwealth Day Message 2013:

Opportunity through Enterprise
This year’s Commonwealth theme, Opportunity through Enterprise, is a celebration of our achievements, particularly those that may have seemed challenging, daunting or even impossible, which have helped to build strength, resilience and pride in our young people, in our communities and in our nations.

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A match between Jamaica’s national football team and England’s Tottenham Hotspur is set to take place May 23 in Nassau as part of the celebrations for the 40th anniversary of the country’s independence.

The match will also be in celebration of the creation of the Caribbean Community (CARICOM), according to Minister of Tourism Obie Wilchcombe.

Minister Wilchcombe said that 2013 marks both the 40th anniversary of Bahamian Independence and the 40th anniversary of the signing of the treaty of Chaguaramas, which created CARICOM.

The match will take place May 23 at the Thomas A Robinson National Stadium.

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Buckeye Partners (NYSE: BPL), operators of the Bahamas Oil Refining Company (BORCO) on Grand Bahama, has contracted local firm Quality Services Ltd to construct two large manifolds for one of its plants in Perth Amboy, New Jersey, in the US.

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Pictured: State Minister for Investments Khaalis Rolle addresses Parliament March 6. (BIS Photo/Gena Gibbs)

State Minister for Investments in the Office of the Prime Minister Khaalis Rolle said in the House of Assembly March 6 the nation faces challenges in attracting foreign direct investment (FDI) given the current global economic environment.

He said the Bahamas government finds itself in a very peculiar set of circumstances brought on by a set of issues, some foreign and some domestic.

The Minister said that as one of the Small Island Developing States (SIDS), The Bahamas was competitive in attracting FDI, but still not as good as it should be.

Rolle read to Parliament from an article written recently in The Bahamas Investor, titled “40 Years of Independence: Economic freedom lies at the heart of a modern Bahamas.”

He said that the article covers the history of the development of the independent Bahamian Economy since 1972 and it explains the current challenges the country faces in the global arena as a sovereign nation.

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The Bahamas’ Environment Minister Kenred Dorsett said yesterday that the government would not hold a referendum on oil exploration.

Offshore oil exploration will be allowed off the Bahamas, the environmental minister said Sunday, adding that a voter referendum on whether to go forward with full production will be held only after it is determined whether the island chain has commercially viable reserves.

The exploratory drilling will not likely produce enough information to make a decision until late 2014 at the earliest and the referendum could be held the following year, Environmental Minister Kenred Dorsett said.

This is an excerpt from AP/ABC News as it appeared on March 11, 2013. For updates or to read the current version of this post in its entirety, please click here.

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Aliya Allen (pictured), chief executive officer of the Bahamas Financial Services Board (BFSB), has announced that wealth management, the funds industry and the insurance sector will be the focus of the organization’s 2013 marketing calendar.

This year’s external communications and marketing outreach begins in earnest this month, when BFSB will be in Palm Springs, California for CICA–a major international insurance conference.

Conference participation and Bahamas Landfall presentations in Latin and North America, Asia and European financial centres are scheduled throughout the year as BFSB, supported by member firms, looks to these events to heighten interest in the advantages of The Bahamas as the leading and most experienced financial centre in the region.

Allen notes that the Bahamas Landfall events have become a key feature of the organization’s external communications programming.

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The Bahamas’ annual Agricultural, Agribusiness and Marine Resources Expo was officially opened yesterday by Prime Minister Perry Christie, who called for more investment in the agricultural sector in order to grow The Bahamas’ export market.

During his opening address, the Prime Minister said that the country should be taking advantage of The Bahamas’ expertise in the industry and exporting homegrown goods and produce, as well as reducing its own reliance on imports.

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