Cable Bahamas Concedes Tax Dispute
Cable Bahamas has conceded its tax fight with the Government, paying a total of $3.538m in unpaid VAT and Business Licence fees.
“We’re glad to get that off our plate”
Franklyn Butler, president and chief executive, stated that it "made no sense" to continue the battle after the company's attorneys advised that the Department of Inland Revenue would likely win its claim.
- The company has given up its full $2.313m deposit.
- It has paid a further $1.225m to ensure post-settlement "compliance".
This "strategic decision to settle the dispute and avoid further financial exposure" is disclosed in Cable Bahamas' financial statements for the year to end-June 2025.
Author's summary: Cable Bahamas pays $3.538m to settle tax dispute.