Business and Finance
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Business and Finance
Source : (remove) : Tribune242
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Thu, December 5, 2024
[ Thu, Dec 05th 2024 ]: Tribune242
'Way too aggressive' over Business Licence deadline

'Way too aggressive' over Business Licence deadline

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  # Accountants yesterday warned that the March 31 deadline to complete 2025's Business Licence audits and reviews is "way too aggressive" and will impose "significant strain" on many businesses.

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The article from Tribune242 discusses the Bahamian government's aggressive approach to enforcing the December 31, 2024, deadline for business license renewals. The government has warned that failure to renew by this date will result in businesses being struck off the register, with no extensions or grace periods offered. This stance has been criticized by business owners and accountants who argue that the government's methods are overly harsh, especially given the economic challenges faced by many businesses. The article highlights the concerns of the business community, including the potential for increased costs and administrative burdens, and the lack of empathy from the Department of Inland Revenue. There's also mention of the government's refusal to accept late filings, which could lead to significant disruptions for businesses. The overall sentiment is one of frustration and a call for more understanding and flexibility from the government.

Read the Full Tribune242 Article at:
[ https://www.tribune242.com/news/2024/dec/05/way-too-aggressive-over-business-licence-deadline/ ]