See, all along the tribune reporters have been asking the wrong guy.

ASK THE PRIME MINISTER OF NEW ZEALAND TO EXPLAIN IT ALL.

Surely, with a name such as John Key, he must be from Abaco.

Basically we are going to put more people on the gov ,payroll that will become another demanding union that will be given anything for votes ,What ever revenue is gained will go to pay this new batch of civil service and the Vat will keep increasing w/ no reduction in the national debt .A 10% income tax wouldn,t need any additional government workers and NIB could impliment it ..Sh@t just raise NIB payments 15%%

And not only are they foreign, but they come from half way around the world. They must be good. Canada is only a three hour flight away, and they have VAT, but obviously the Canadians are inferior as they live closer. Plus New Zealanders have a funny accent, and are much harder to understand, so obviously they must be better explainers.

OK, shush now Bahamians, the New Zealanders are gonna explain that you have nothing to worry about, and your business will grow by leaps and bounds by being taxed 15%. And while they are at it, the Kiwis will explain in greater detail how Bahamians gambling will destroy the American dollar peg as James Smith stated last week.

Bring on the magic explainers, and erryting gern be all right. No woman no cry. But wait, here's the good part:
>
“You would expect that when we do all these things the government would have a position, meaning me, I will have a certain position on the matter and my position will be influenced by a combination of what is happening in the foreign investment area and the public sector area in terms of direct expenditure into the economy. It will be based on an estimate as to what the economy can bear in the country and when.”

See, the PM doesn't have an opinion now, but when the time comes he will determine the maximum that you pay and he will implement that. Don't you feel better already?

"Expert" - someone who knows the same thing as you but lives more than 50 miles away

*"the government would have a position, meaning me, I will..."*

What language does he speak? "**I**-ish"?

A quick Google of "VAT in New Zealand" (yes, Mr Christie, we can type all those letters by ourselves) shows that GST, as the Kiwis have it, has already been increased twice since it was introduced - from 10% to 12.5% to 15%. Well, doh, do they have to travel half way round the world to teach us that ?

And to my esteemed colleagues above, (on, cc, rory and banker) the real reason why they are bringing in Kiwis is that there will, of course, have to be reciprocal return visits to Auckland, Wellington and Christchurch by our MOFA to see what impact GST has had on the average Joey. Got to plan these jaunts well ahead of time you know

So he's saying that once these "experts" come in and explain VAT to us then the government (meaning him) will have an opinion! What the hell is going on in this country? How can you as the PM say that this will be enacted for July 2014 and you do not have an opinion on it?
This ship is sinking fast.

We have plenty of professional audit firms in The Bahamas that are quite capable of advising government and the business sector on VAT. Watcher is spot on with his observation.

Did they also mention that New Zealand averages almost 43% on personal income tax? It's been said before that VAT should NOT be implemented if you do not have an income tax structure in place FIRST. Also...point of interest is that New Zealand and other countries allow for DOUBLE taxation...if I am resident in New Zealand, and also in the US, UK or other territories, I have to pay taxes in BOTH countries on my wages.

http://en.wikipedia.org/wiki/Taxation_i…

"Double taxation agreements

Individuals who are tax resident in more than one country may be liable to pay tax more than once on the same income. New Zealand has double taxation agreements with various countries that set out which country will tax specific types of income"

Firstly, the Kiwis, know nothing about our Bahamian ways, Slack record keeping, lack of lien laws, check bouncing regularity and our thousand other tricks of the trades!
they also have decent audit trails on income, general ledgers, private sector money trails via income tax and GST, and more first world approaches and standards.
We still work out of over the counter receipt books and a check book full of rubber paper!
Aliases, promises and delaying tactics, family in the Government depts losing docs, and rubber stamping docs,
Hell, I'll bet Govt Doctors clear over 100K in Sick notes for $5 !!
How they gonna track that?
Insanity.