Cable Bahamas Concedes Tax Dispute
Cable Bahamas has conceded its tax fight with the Government, paying a total of $3.358m in unpaid VAT and Business Licence fees.
"We're glad to get that off our plate"
According to Franklyn Butler, president and chief executive, the company's attorneys advised that it was likely the Department of Inland Revenue would win its claim, making it sensible to settle and avoid further financial exposure.
- Total amount paid: $3.358m
- Initial deposit: $2.313m
- Additional payment for compliance: $1.225m
This decision is disclosed in Cable Bahamas' financial statements for the year ending June 2025.
Author's summary: Cable Bahamas settles tax dispute for $3.358m.