The Bahamas Investor

A report by the Global Forum on Transparency and Exchange of Information for Tax Purposes claims that efforts to increase transparency and tax information exchange have been progressing well. The report was submitted to the G20 summit in Los Cabos, Mexico, yesterday. “Since the last report sent to the G20 in November 2011, the Global Forum has made steady progress towards its goal of increased transparency,” the report states. Phase I of the Glob......

...structural investments, alongside foreign investment related projects, led by the commencement of the “core” phase of the Baha Mar mega resort project on Cable Beach, New Providence. Central Bank monitors economic conditions as part of its monetary policy mandate, to assess whether money and credit trends are sustainable relative to levels of external reserves required to protect the value of the Bahamian dollar and, if not, the degree to which cr......

...h, download the PDF here.......

The Bahamas continues to accentuate its commitment to international tax compliance by concluding its twenty-eighth tax information exchange agreement (TIEA). The agreement between the government of The Commonwealth of The Bahamas and the government of the Republic of South Africa for the exchange of information relating to tax matters was signed on September 14, 2011. The Bahamas currently has TIEAs with: Argentina, Aruba, Australia, Belgium, Can......

...n the overall deficit, while monetary developments continued to feature high and stable levels of bank liquidity and external reserves, amid soft private sector demand. The Monthly Economic and Financial Developments report is compiled by the Central Bank to provide the public with more frequent information on its economic surveillance activities. Download a PDF of the Central Bank’s Monthly Economic and Financial Developments Report August 2011 h......

...n for the twelve months to September—as measured by the Retail Price Index for The Bahamas—firmed by 1.5 percentage points to 2.8%, amid elevated energy costs. Average price gains accelerated for transportation (8.2%) and housing, utilities & fuels (3.2%)—the most highly weighted component. Additionally, accretions to average costs for education, furnishing, household equipment & maintenance and restaurants & hotels firmed to 3.4%, 3.0% and 2.6%,......

...Download/view the full Tax Information Exchange Agreement (TIEA) here.......

...llowed by the launch in the remaining Family Islands – a project scheduled for completion by the third quarter of 2012. I am also told that this new cellular network will provide mobile telephone users, and mobile tablet users of devices such as the i-Pad, the ability to surf the internet at land-line speeds. 4G will change the way many of us communicate, socialize, do business, enjoy music and entertainment and participate in the creative economy......

...stent implementation of targeted financial sanctions when these are called for by the UN Security Council . Improved transparency to make it harder for criminals and terrorists to conceal their identities or hide their assets behind legal persons and arrangements. Stronger requirements when dealing with politically exposed persons (PEPs). Expanding the scope of money laundering predicate offences by including tax crimes. An enhanced risk-based app......

...score and rank, placing third overall. The greatest contributing factors to its decline are lower scores on securitization and IPO activity. To get more information on the report watch a short video here. Download a PDF of the report here.......

...) reduction in the overall deficit, to $95.5 million, partly aided by higher revenues from non-trade stamp taxes. The domestic banking sector also regained some ground on post recession figures. “Buoyed by improvements in the interest and ‘miscellaneous’ income components, banks’ overall profitability improved by 4.3 per cent ($2.7 million) to $65 million during the second quarter, although considerably below the 34 per cent ($15.8 million) expans......

...gains in labor freedom and monetary freedom offset by worsened conditions for business freedom and government spending. The Bahamas is ranked 9th out of 29 countries in the South and Central America/Caribbean region, and its overall score is higher than the regional and world averages. The index says that relatively sound macroeconomic management has contributed to steady economic growth, but the Bahamas’ overall economic freedom has been declini......

...dence has fallen back seven points. The gap between actual and expected performance is also narrower for those in this region, implying a more cautious optimism. The report looks at how high-end firms can tailor the customer experience to ensure they continue to attract and hold on to this valuable client group. It finds on average, clients spend $17,300 on major purchases or donations and take 43 days to decide. While generally firms deliver a cu......

...st week a list of conference and events that it intends to attend in the upcoming months. Key events around the world include the Brasil Investment Summit in Sao Paulo on April 24-25, the Transcontinental Trust Conference in Geneva, Switzerland, June 20-21, and the STEP Asia Conference in Hong Kong in November. In 2012, the BFSB will also be presenting its “Bahamas Landfall” promotional briefings in Miami, London, Geneva, Zurich, Toronto, Rio de J......

...egion received the largest share of gross capital flows (international bond issuance, cross-border syndicated bank loans, and equity placements) to developing countries, accounting for 33 percent of the $412 billion global gross capital flows in the first 10 months of 2012. …continue > download the full report here......