Bahamas: The Free National Movement (FNM) stated the Prime Minister’s Business Outlook address for 2021.
According to FNM, “Prime Minister, Dr. Hubert Minnis, was one of the first to acknowledge the harsh economic certainties brought on by the global pandemic. And as the deadly virus rages out of control around the world, we have avoided the worst of what other countries are facing because of his strong guidance.”
Furthermore, they added, “The Prime Minister has achieved safety protocols developed with healthcare experts. These works are saving lives. The progress we are making offers hope that we will be able to put this virus behind us at some point this year.”
According to FNM, The previous Christie Administration made many promises and spoke of countless plans they never followed. The Prime Minister’s address showed that while the global pandemic has adversely impacted our people and economy, his administration still plans to move the country forward. The Prime Minister is making on the solid foundation laid before original crises hit our country, from the acceleration of the Sovereign Wealth Fund to promoting public-private partnerships to much-needed infrastructure projects.
Recently, the Ministry of Finance also released a press that promotes the Commercial Entities process (Substance Requirements) Act 2018 (CESRA). It also elevates its outreach and stakeholder education to help businesses avoid late penalties.
“The enterprise community has been very receptive to our ongoing outreach, as there are many reasonable faith efforts to comply with the new CESRA regulations. It is a new process, so generally, there are many questions. The sentences for non-compliance are relatively high, given the legislation’s importance, but they are intended as restraints for those trying to complete the process.
The Ministry also published the first of several “How to” video tutorials that will further guide firms through the reporting process.
