Flipping Grand Bahama

And on the positive side.... What is there to say about the future of Freeport? It's all positive. Created from a dream by one man, it is returning with the will and creative imagination of many who remembers the good ole' days. Freeport was planned strategically by investors in the 1950s and 60s, but today as technology and entrepreneurs look at the possibilities in pockets we see great things beginning to come together. Rumours persists of a sale of the Xanadu Resort and Marina but little is yet know if it is true and what will be come of the property that was once owned by Howard Hughes, U.S. tycoon, investor, inventor, aviator, aerospace engineer, film maker and philanthropist. Memories Resort is looking forward to full occupancy throughout the season and other persons are beginning to take a second look at Freeport seeing all its wonderful potential. If you have any disbelief then you need to check out the Grand Bahama Chamber of Commerce Business Excellence

So the magic city is watching as the country attempts to implement the Value Added Tax to its books. Good or bad, depends on the person you are talking to. But for Freeport, as was said before, we may escape the VAT altogether. Why? The Hawksbill Creek Agreement that began this magical city. Here is what it says to VAT: (Thanks Wayne Russell) 14.  VAT and the Hawksbill Creek Agreement (HCA) Under  Clause 2 of  the  HCA,  the  Port  Authority  and its licensees  are exempt from customs duties and taxes on imported goods that are used for developmental  or manufacturing  purposes within the  Port Area, or which support the administrative purposes of the Port Authority. Goods of a consumable nature are excluded from this treatment. In the VAT draft Bill, it is stated that the VAT law  would apply in the Hawksbill Creek Port  Area where:   a taxable supply within the Hawksbill Creek Port  Area is made by: (i)  a  taxable  person  who  is  a  Port  licensee  to