Is VAt a new attempt at mortgage relief?
Or is the resurrection of mortgage relief horse another excuse not to table VAT tariff schedule?

Can the tribune launch alittle applet next to these pictures and record how many eggs the readers toss?

Sorry - wrong story went up earlier.

> The general consensus is that a lack
> of control of spending over the years
> has put them in a position where they
> have had to take fairly drastic
> measures to bring their financial
> situation back in order.

Yep that was in Barbados, here in the Bahamas the government controls spending very well, and has no over drafts.

> “I see some (persons against) VAT
> referencing other countries and saying
> well that particular country has VAT
> and they are in trouble. Well it’s not
> only that, it’s a whole mix of issues
> that they are grappling.”

right, the bahamas, has no issues, no issues at all. the civil service is minuscule and no one borrows.

I was thinking down the line on both questions, if you want sell something try and come up with a bette pitch

Definitely wrong headline for the story...so VAT has failed in MANY Caribbean countries that have similar characteristics to ours...we are the ONLY country moving to VAT that does not already have some other tax structure like income tax already in place. He is now saying the legislation may not be out until the end of February and we are meant to have everything in place to go live 4 months later? They are off their rocker. By all means, look at the other countries that are a close fit to our economy and make up, and compare...LEARN from those around you that VAT does NOT work effectively...oh, but wait...we should just ignore all these other examples around us cause the rest of them are full of crap and don't know how to run a government properly...as if we do...our government structure is an absolute archaic joke, and they are wanting to leapfrog into VAT which requires heavy reporting, tracking, accountability and the technology to back it. Bull crap. We couldn't be ready for a VAT set up for YEARS...let alone 4 months. Idiots.

Not sure which country these officials live in... VAT is a gateway tax. We will soon have income tax as well. This and every government we have ever had has spending issues. Until this issue is taken into consideration, we will always be in the financial situation we are in now. Everyone is going to lose 15% of their pay right off the top. Salaries aren't going up but prices are.

The poor and middle class will feel it the most. I've heard rumors that Excise Tax (Duty) will drop by 17% and that VAT is only 15%. Reads well, but figures don't lie.

You buy something for $100 and pay 85% duty. Your final figure is $185. Taking 17% (now $68) off means something that cost $100 will cost $168. The thing is, you now add the 15% to the total cost making your final price $193. That's a whole $13 increase. Businesses are subject to price control which means their profit margins on items have to reduce due to VAT. On top of that you have utility bills, maintenance, salaries, and more. Going to be a rough adjustment.

Thats if the middle class does not become extinct after VAT's implementation. Then it will just be the rich and poor, or aristocrats and peasants.

Been saving up for a few years just in case of something like this.Our business license fee is around $120k. After the new business license increase it will be around $300k.. Then add VAT.

MORTGAGE topic change...

Another one of those great elections promises fullfiled...they are now trying to evaluate if they have the money to try do it all over again...THEY DON'T...that's why we are getting jammed with VAT...another empty election promise that was just used to get into the voters heads...which are apparently as empty as the promises.

All that money on the NTA and Unemployment increased, the NTA had a graduation of about approx 1000 and only approx 32 received actual jobs (just another crony initiative) and approx 62 received 'interviews'. Yet they think that the main reason persons dont have jobs is because they are under-trained or unqualified, yet this may be true for a lot, there are still a lot of qualified persons that dont have jobs. Salaries are not increasing, businesses are saturated with no prospects of expanding to accomodate the influx of persons looking for jobs. They are going to strangle us with VAT that is then only going to kill the hard working Bahamian, and cremate the ones that are unemployed. There will be more Bahamians that cant afford their mortgage, let alone pay their Cable or BEC bill. The country is in turmoil really, and crime is also a product of this.

here we go again!

Is the PLP trying to pull another fast one like the BTC deal????????????

This is akin to Hitler's propaganda!!!!!!!!!!!!!!!!!!!!!

...and yet people are buying it!! People are still voting thinking the either the govt or the people got the better deal over CWC...you can't make this crap up...they are so blindfolded and delusional, they will believe anything these jokers are saying. Some poor soul is now jumping up and down in anticipation of his mortgage relief being fulfilled...good luck with THAT one!!

old tactics from the Mein Kampf!

The $100 million question is:
**Who gonna monitor this VAT money????????**

Or is it going in the Consolidated aka Black hole Fund???????

WE NEED A VAT TRUST. LOL

You can't afford it. You have no money. Next?

You can't afford it. You have no money. Next?

Borrowers Protection Act? I can help you with that too, "*anyone who's in our party gets to borrow*". Next?

Of course it will go into the Consolidated fund,
how else will they use it for free healthcare, mortgage relief, subsidies for the poor affected by VAT, etc etc.
Paying down the National debt is the primary lie.
It will never happen.
Also, even the IMF says that revenue will be down for 5 years or so.
Meanwhile businesses will close, belts will tighten, revenue gets the double hit.
In comes income tax to the rescue!
People need to realize Governments the world over have been considering citizens income as their own, ever encroaching on and borrowing against.
and now they need it for their own purposes, and have convinced themselves that it is their to take.