A new resort has opened on the west end of Grand Bahama.
Nandana, which means 'paradise' in the Indian language of Sanskrit, is designed in the style of a Thai beach mansion. The resort comprises more than 18,000 square feet of living space and offers guests the luxury of a five-star hotel, with the intimacy of an opulent private home.
In the center of the resort is the Great Hall, a soaring main house with living and dining areas and a 40-foot-high ceiling. Surrounding the main house are five one-bedroom suites, including two 1,000-square-foot beach front pavilions, two garden bungalows, and a 2,000-square-foot luxury canopy suite.
The resort also has a 5,100-foot landing strip, for guests arriving by private jet, as well as a deep-water canal leading to two sheltered on-site docks able to harbor a pair of 100-foot yachts.
On-property staff provide the services of an estate manager, concierge, chef, masseuse, personal housekeeper, butler, chauffeur and boat captain.
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Wednesday, December 30, 2009
Tuesday, December 15, 2009
Bahamas Banking sector to receive more taxes
The domestic banking sector of The Bahamas is set to be hit by increased taxes next year, Prime Minister Hubert Ingraham has vowed.
Speaking at a press conference at Nassau' airport the Prime Minister said: "The banking sector in The Bahamas is under-taxed, we've made that point before. We began last year increasing the licensing fees for banks in The Bahamas, that is inadequate.
"The banking sector should pay more and in due course they will be required to pay more."
One leading light in the financial world to agreed that the banking sector should be taxed harder.
President/chief executive of British American Financial Chester Cooper said: "Many offshore centers like the Bahamas appear to be increasing indirect taxes with a view to avoiding the implementation of more direct means of taxation such as income taxes or Value Added Taxes (VAT).
"Quite frankly, in time we will find that we have delayed the inevitable. Direct taxation although not without its challenges will be more efficient in terms of collections and otherwise, but is more progressive and equitable as well.
"It has long been the view that banks in the Bahamas are under-taxed and the formula quite rightly needs to be re-assessed. Insurers for example, pay a percentage of top line Gross premiums by way of premium taxes. This amount can work out to be inequitable and substantial, as there is no regard for whether the company makes a profit or not."
Speaking at a press conference at Nassau' airport the Prime Minister said: "The banking sector in The Bahamas is under-taxed, we've made that point before. We began last year increasing the licensing fees for banks in The Bahamas, that is inadequate.
"The banking sector should pay more and in due course they will be required to pay more."
One leading light in the financial world to agreed that the banking sector should be taxed harder.
President/chief executive of British American Financial Chester Cooper said: "Many offshore centers like the Bahamas appear to be increasing indirect taxes with a view to avoiding the implementation of more direct means of taxation such as income taxes or Value Added Taxes (VAT).
"Quite frankly, in time we will find that we have delayed the inevitable. Direct taxation although not without its challenges will be more efficient in terms of collections and otherwise, but is more progressive and equitable as well.
"It has long been the view that banks in the Bahamas are under-taxed and the formula quite rightly needs to be re-assessed. Insurers for example, pay a percentage of top line Gross premiums by way of premium taxes. This amount can work out to be inequitable and substantial, as there is no regard for whether the company makes a profit or not."
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