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Thursday, January 29, 2026
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No Gov’t bills ‘offset’ exacts cash flow toll • Call to net-off due taxes against Gov’t payables BAHAMIAN businesses are suffering “discomfort” because there • Absence of inter-Gov’t is “no right of offset” between taxes linkages causes ‘damage’ due to the Government and outstanding bills it owes to them, a senior accountant is warning, adding • DIR: ‘Escalate’ if no query that it is inflicting “a toll” on corporate cash flows. reply within five days BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
Craig A. 'Tony' Gomez, the Baker Tilly Gomez accountant and managing partner, told Tribune Business that the absence of such a “provision”, which he said exists in many free market economies, means some companies face having to pay substantial sums in Business Licence fees, VAT, real property tax and other levies at the same time as the Government owes them significant monies. Suggesting that this can inflict “significant damage to cash flow”, especially for small and medium-sized businesses, he called for there to be better “communication or linkages” between different ministries, agencies and departments so that the Bahamian private sector can offset, or net off, taxes they owe to the Public Treasury against sums due
to them without compromising the Government’s own revenues. Praising the “significant improvement” in the Business Licence filing process compared to when the current system was introduced two years ago, Mr Gomez also told this newspaper that “greater effort has to be made” by the Department of Inland Revenue to respond to, and resolve, taxpayer queries “on a timely basis”. He added that, while the tax authority’s responsiveness has improved, “in a number of cases” there have still been delays in receiving answers to tax-related inquiries. This, the Baker Tilly chief said, places companies in danger of missing VAT, Business Licence and other filing
Fears of GB Power deal’s loss ‘burden’ for taxpayers BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government’s proposed acquisition of Grand Bahama Power Company could “burden” Bahamian taxpayers with the financial cost of covering its losses unless the island expands to the necessary critical mass through populatipn and business growth. Dillon Knowles, the Grand Bahama Chamber of Commerce president, responding to the Prime Minister’s disclosure that it is negotiating to buy GB Power warned that converting it “into a state-owned enterprise is not in the
long-term best interest of Grand Bahama”. In a statement issued to Tribune Business, he argued that any government ownership would suffer from, and encounter, the challenges experienced by GB Power’s current owner, Canadian energy giant, Emera. This chiefly is the absence of a sufficiently large customer base over which GB Power can spread its infrastructure and operating costs and thus lower per subscriber bills. Pointing out that Bahamas Power & Light’s (BPL) current business model results in New Providence
PURCHASE - See Page B7
Cafe Johnny Canoe to shut down on Saturday BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net CAFÉ Johnny Canoe, the prominent Bahamian restaurant brand, has revealed it will close on this Saturday, January 31, just over four years after it re-opened during the latter stages of the COVID-19 pandemic. The Baha Mar Boulevard-based establishment, in a post on its Facebook Post, confirmed its decision to shut down without going into the reasons why as it thanked customers for their support.
“After much thought, we want to share that Café Johnny Canoe will be closing as of January 31, 2026,” the notice said. “We are deeply grateful to our customers, neighbours and community for the support, memories and friendships over the years. Serving you has been an honour, and we thank you for making Café Johnny Canoe a special place. Please join us before January 31st as we celebrate our final days.” Cafe Johnny Canoe first opened in 1992, but shut down in 200 after its
CLOSURE - See Page B6
Grand Bahama Power Company
Craig A. 'Tony' Gomez
deadlines, thus exposing them to potential fines and leaving them in an “uncomfortable position”. Dexter Fernander, the Department of Inland Revenue’s operations manager, told Tribune Business that “the learning curve is increasing” with the number of challenges, complaints and difficulties encountered by companies in submitting this year’s Business Licence reurns having decreased compared to the prior two years. With businesses, and their legal and accounting advisers, now seemingly more familiar with the process, he added that the tax authority has
FILINGS - See Page B6
Gov’t treating GB residents as ‘puppets’ over power firm deal BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government was yesterday accused of treating Grand Bahama residents as “puppets” by generating more questions than answers over its announced ambitions to acquire the island’s electricity monopoly. Darren Cooper, proprietor of D’s Car Rental and a well-known radio talk show, told Tribune Business that the Prime Minister’s disclosure of the memorandum of understanding (MoU)
with Emera, the Canadian energy giant that presently owns 100 percent of Grand Bahama Power Company, was premature given that no final, binding deal for an acquisition. Asserting that the press conference given by Philip Davis KC was akin to giving residents “false hope, and comparing it to last May’s announcement of the stillto-close Grand Lucayan deal with Concord Wilshire, he argued that the Government has failed to address “the full magnitude” of the
UNVEIL - See Page B10