National

FNM Hits Out At Proposed Corporate Tax

NASSAU, BAHAMAS – The Davis administration and the Free National Movement getting into a back and forth over a green paper on corporate tax.

Published

11 months ago

May 23, 2023

Berthony McDermott

NASSAU, BAHAMAS – The Davis administration and the Free National Movement getting into a back and forth over a green paper on corporate tax. FNM leader Michael Pintard isn’t a fan calling it “half-baked”.

Free National Movement leader Michael Pintard slamming the recently released green paper on corporate tax.

Why? Well, he says it simply was poorly thought out.

While he says the FNM supports discussions towards a more equitable tax system. He pointed out a few issues with the government’s green paper.

The green paper gives four possible new tax structures for businesses that will align with the OECD’s tax policies.

136 jurisdictions including The Bahamas has agreed to implement a 15% global income corporate tax by 2024.

However, Pintard feels this will have an adverse impact on Bahamians especially the middle and lower classes.

In a statement, the Office of the Prime Minister called Pintard’s comments shocking and disingenuous as it was a commitment made under the former Minnis administration.

The statement also said they’re disappointed that the leader of the opposition failed to comprehend the purpose of a consultation process.

Pintard says the FNM doesn’t believe the government is committed to accountability and transparency.

He also believes the announcement shouldn’t have been made through a release. It’s a claim OPM also sought to shoot down.