NATIONAL NOTES

June 1998 Table of Contents - Current Issue of The Abaco Journal - Abaco Bahamas' Home Page

NATIONAL NOTES

Prime Minister Hubert Ingraham attended the Summit of the Americas in Santiago, Chile, in April. On his return he said that The Bahamas would probably ask for an extension of at least five years in order to comply with the Free Trade of the Americas Agreement, due to come into effect in 2005. The Bahamian economy is mainly based upon import custom duty and this will have to be changed when tariffs and duties are eliminated by the Agreement. Although it is far too early for any specific proposals, Prime Minister Ingraham has ruled out income tax as an alternative form of taxation.

Declare those goods! According to The Tribune of Nassau, the nation's leading newspaper, PLP Senator Fred Mitchell holds a copy of an inter-staff memo from the Comptroller of Customs asking his department personnel to collect an extra $20 million during the months of April, May and June 1998, the last three months of the government's fiscal year. You have been warned...

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