Thursday, February 20, 2014
By RASHAD ROLLE
Tribune Staff Reporter
rrolle@tribunemedia.net
THE government should tax Bahamians a 10 per cent Value Added Tax (VAT) rate and consider imposing a seven per cent income tax on people who make more than $175,000 per year, former Christian Council President Dr Patrick Paul said yesterday.
He added that doing so would “strengthen the middle class and assist the poor and downtrodden in our country”.
Referencing the government’s VAT presentation delivered across New Providence, he said: “According to the VAT presentation, it appears that even at 15 per cent there will not be sufficient revenue generated to meet our debt payments.”
“An additional tax structure should also be considered. For example, all persons earning more than say $175,000 should be assessed income tax of seven per cent. VAT should then be reduced to 10 per cent. This will assist in ensuring that the future of the Bahamas is in good shape for the next generation.”
Rev Paul said all Bahamians should be concerned about the country’s “huge deficit.”
“The government needs to do much more to help get the word out, to inform and educate our people in this regard,” he said, adding: “If there is not corrective measures put in place, a little further down the road, a few years from now, our debt can swallow us up. We can very well be left to the mercies of our creditors.”
Comments
Thinker says...
Wtf is this article even posted for? To give stupid ppl ideas? Yes, the country should be concerned that this country's huge deficit was caused by the people (government) who are trying to take more of YOUR money!!! This is blatant deception from a church "leader"! Their political and financial UNEDUCATED OPINIONS should not be of any merit.
Posted 20 February 2014, 11:23 a.m. Suggest removal
proudloudandfnm says...
Man who gives a dog's butt what any church has to say about our economy. You know if church's are gonna chime in our government issues then church's better be paying some serious taxes....
Posted 20 February 2014, 11:59 a.m. Suggest removal
B_I_D___ says...
Tax the churches!!
Posted 20 February 2014, 1:22 p.m. Suggest removal
Stapedius says...
Pure speculation on the part of the pastor. Where is the evidence to suggest that the middle class would be stengthened by income tax? Why do we waste printing space on people who have no idea what they're talking about? I wasn't aware that he was an Economist or some financial expert to be making public comments on the issue. Please just keep your suggestions within your small circles.
Posted 20 February 2014, 1:51 p.m. Suggest removal
hj says...
Why the Tribune has published an opinion from someone who obviously has no idea what he is talking about ? Income tax on top of VAT. Nice
Posted 20 February 2014, 2:37 p.m. Suggest removal
sheeprunner12 says...
Patrick Paul needs to stick with the Bible, cuz what he is talking is voodoo economics. The average Bahamian makes about $20,000 per year. I suppose he doesnt want anyone to pay tax.
Thats plain stupid and based on no factual information
Posted 20 February 2014, 3:25 p.m. Suggest removal
Cornel says...
The Tribune should add a new section to the paper for articles like this. Call it the IDIOT section. It could be good for a laugh now and then
Posted 20 February 2014, 3:47 p.m. Suggest removal
padeco says...
Why would the PM go to this group of idiots for advice.
Posted 20 February 2014, 5:11 p.m. Suggest removal
asiseeit says...
This idiot needs to shut up. The church has failed this nation. All the church is, is a business, these guys are in it for the money. Tax them if they want a say. If not stay out of the running of the country and go fleece your ignorant flock.
Posted 20 February 2014, 8:07 p.m. Suggest removal
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