Bahamas Borrowing $150,000,000 Each Month?

I sure hope I misread the news article recently that quoted the Prime Minister, Mr. Hubert Ingraham as saying his government was having to borrow $150 million a month to keep paying the country’s bills.These are difficult times for sure, but it’s not like...

Proposed 84.1% NIB Contribution Tax Hike

A recent announcement was made by NIB of a possible contribution tax increase of 2%. At first glance, a 2% tax increase seems bearable. It is definitely better to receive a 2% salary increase, but nonetheless a forced 2% salary decrease seems bearable. However, things...

National Insurance Board Tax

The National Insurance Board (NIB) has responded to two releases by The Nassau Institute relating to a case study of the NIB’s proposed combined tax increase of 84.1% in an effort to keep the fund solvent and add unemployment and pharmaceutical benefits. To...

Proposed 84.1% NIB Contribution Tax Hike

A recent announcement was made by NIB (National Insurance Board) of a possible contribution tax increase of 2%. At first glance, a 2% tax increase seems bearable. It is definitely better to receive a 2% salary increase, but nonetheless a forced 2% salary...