NASSAU, BAHAMAS — The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has expressed its disappointment in the government, citing a “continued lack of good faith” in failing to engage in proper consultation with the business community.
In a statement yesterday BCCEC chairperson Khrystle Rutherford-Ferguson said the business community remains “hamstrung” by uncertainty, noting that the various measures, amendments, and policy shifts recently proposed by the government will bring about extensive changes in business operations within The Bahamas when they come into effect on July 1.
“It is regrettable that these policy shifts are increasingly announced without adequate prior consultation or with insufficient details and advanced notice to facilitate meaningful engagement with the business community,” Rutherford-Ferguson stated.
“Such an approach hinders the correction of any evident missteps and impedes smooth implementation.”
Rutherford-Ferguson referenced the recently announced reduction of the time allotted for large businesses to submit VAT returns from 21 days to 14 days, without the possibility of an extension—a proposal she noted that BCCEC members vehemently reject as unworkable.