New Post Office Fees Now In Effect

The Bermuda Post Office issued a statement reminding the public that the newly implemented postal fees are now in effect. “The new fees have been implemented to offset the Post Office’s operating costs for its services. And the levying of fees on postal services is in keeping with the standard practices of other jurisdiction’s postal [...]

25% Duty Rate Takes Effect On April 1st

Effective 1st April 2012, there will be a new standard 25% import duty rate for nonbusiness goods. “Special” rates of duty, including zero-rates [0%]; higher rates [33.5%, 75%, 150%]; and specific rates [e.g. litres or litres of alcohol], will remain unchanged. The standard 25% duty rate and the special rates will be paid for goods [...]

Post Office Fees To Increase April 1st

The Bermuda Post Office has implemented postal fee increases which will be effective April 1, 2012. Minister of Economy, Trade and Industry, Patrice Minors said the new fees have been implemented to offset the Post Office’s operating costs for its services. “The pro bono provision of postal services by BPO is no longer sustainable in the [...]

Fahy: Increase Business To Create Jobs

Speaking in the Senate this morning [Mar.21], Senator Michael Fahy said the One Bermuda Alliance would address the debt by increasing opportunities for international business which will create jobs and increase payroll tax collected. “We would streamline the work permit process all the while protecting jobs for Bermudians and enhancing opportunities for Bermudians by suspending [...]

TCD Will No Longer Accept Checks

“The Transport Control Department (TCD) is advising the public that it will no longer be accepting personal or business checks, but rather cash, manager’s check, Mastercard or Visa only,” said a Transport Ministry spokesperson. “And TCD further advises businesses with large transactions to consider paying by corporate card or manager’s check. For more information about the [...]

Premier: ‘Debt Represents Investment’

The debt that “the OBA screeches about represents investment in Bermuda’s future,” Premier and Minister of Finance Paula Cox said today [Mar.2] following the Opposition’s Budget 2012 Reply. Shadow Finance Minister Bob Richards noted the 2012/13 Budget “adds a staggering $200 million to our debt” and provided a chart showing Bermuda’s debt was under $200,000 [...]

OBA Delivers Reply To The Budget

[Updated] We are facing the greatest economic disaster in Bermuda’s history, Shadow Finance Minister Bob Richards said this morning [Mar.2] as he delivered the One Bermuda Alliance’s reply to the 2012/13 Budget in the House of Assembly. “We have major concerns about the Government’s Budget for the coming fiscal year. If you had asked Bermudians [...]

$27M Owed In Social Ins. Payments

As of November 2011 there were 2,677 companies which are 60 days in arrears owing over $27 million in Social Insurance contributions, Junior Finance Minister David Burt said yesterday [Feb.29] in the Senate. The figures were released after Opposition Senator Toni Daniels tabled Parliamentary Questions for the Junior Minister yesterday. When asked whether any company/vendor [...]

Air Control Could Gross $25/28 Million

If we bring our airport up to standard the Government could gross between $25 million and $28 million a year in revenue, Transport Minister Derrick Burgess said at yesterday’s [Feb.24] post-budget press conference. The Ministry of Transport has been given a budget of $79.5 million for the coming year, an increase of over $3.2 million [...]

Thomson: “Sad Day For Consumer”

Mailboxes Unlimited president Steve Thomson said it is a “sad day for the consumer in Bermuda,” following the news in the 2012/13 Budget that duty at all ports of entry will be 25%. Noting it represents close to a 400% increase on duty on clothing, Mr Thomson questioned whether local clothing retailers were “negotiating the [...]

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