This 9% income tax rate is being floated by Minnis and Turnquest for public reaction under the guise of the Bahamas all of a sudden needing to somehow get off of a Dutch blacklist that it has been on for many years. The reality of the situation is that Minnis and Turnquest want to introduce this 9% income tax across the board (on all Bahamians and foreigners resident in the Bahamas) because the very corrupt and most incompetent Minnis-led FNM government's modus operandi of governing is: BORROW BORROW BORROW - SPEND SPEND SPEND - THEN TAX TAX TAX.

As long as the new tax will be an income tax and not a payroll tax as was suggested in the past.

Can we talk about their Dutch Sandwich tax scheme?

Just for the heck of it, look up "netherlands tax haven starbucks" on Google.

Just off the top of my head - Netherlands, Ireland, Malta, Luxemburg are all well-known tax havens.

What the heck, just for the fun of it, here's a quick Google search that brings up the Top 10

https://www.investopedia.com/articles/w…

Repeared continuous battling....repeated continuous battling...one country after another...years of battling....while banking industry shrinkng many other reasons...200 billion dollars plus exited ....600 plus jobs no more....foreign banks closing right under noses...!!!!

Seems obvious trying to win battle for years...and losing the war...!!!

Banking industry needs to reorganize to grow in light of rapid changes in industry rebranding...instead of other nations and european organizations tying country up knowingly following them....trying to beat existing old horse.

The Colony's prime minister just said yesterday that he does **not** have an issue with the massive increase in the government's **globe trotting travel expenses.**
Growing numbers China's State and Privately Owned Sectors - among them - Business,Tourism, Industries, Airlines, Banking, Manufacturing and Tech are already experiencing record high free falls of up **92%** from the Coronavirus. The Colony's government and businesses - **better start NOW taking** serious notice - how dangerously close Homeland's economy is edging towards a **category 8** free fall?

Who the hell do they think they are! I don't blame you KB, we will not be dictated to by the Dutch or anyone else for that matter. Nice try though!

… the EU and OECD have been dictating for more than a decade and we have been jumping through the hoops to please them, that's why they feel bold enough to make demands. Our leaders are idiots!! We need to do what is in our best interest now!

I will NOT be traveling there this year - just for this.

Wow that's such a specific request by the Dutch...hmmm....The Netherlands / The Bahamas....Quick Google Search...

- The 10th largest company in the Netherlands bringing in approximately $1 Billion in profit annually (per Fortune 500 Listing) ---> Heineken N.V.
- The company with the highest P/E ratio on the Bahamas Stock exchange, bringing in 24 Mil in profit in 2017 and 6 Mil in profit in 2018 - Commonwealth Brewery Limited (2019 profit probably went back up a bit)
- Heineken N.V. owns 75% of Commonwealth Brewery Limited

Soooo hmmm, I would be very wary of The Netherlands and anything related to our country's tax regime. Their suggestions would significantly impact a major company in our country, that also has significant interests in their country. What's this really about?

I will never drink again an Heineken. Sands is much better anyway

What will they demand next? That our PM runs naked down Bay Street?

Any simple google search will reveal that the Netherlands has been used as the place of choice for multinationals to avoid taxes and that their banks have been used for some massive money laundering. Here is a sample of the headlines:

EU opens in-depth probe of Nike's tax deals in the Netherlands

How the Netherlands Built One of the World’s Worst Tax Havens

Bermuda? Guess again. Turns out Holland is the tax haven of choice for US companies

ABN Amro hit by Dutch money laundering investigation

Dutch bank ING fined $900 million for failing to spot money laundering

Criminals launder €13bn a year in the Netherlands

etc.

… so when will we begin to ban the import of products from their country?? Personally, I despise French wines anyway!

What about all the Dutch tax haven activities?

If all the past co-operation has only brought us black lists, perhaps its time to review past regulations and agreements with a view to dialing them back and clearly the promise of "do this and you will not get a blacklist" was clearly a promise that was never kept.

answer simple: The Bahamas should put the Dutch on a black list.

I think we're missing the point.
No government, ours included especially, has the interests of its people has a priority.
They want to get into power, stay in power, and enrich themselves.
If this is not the case, show me how the Bahamian people have truly benefited by any party or politician who has "served" us. Served us, before serving themselves, their families, their political cronies.

We could have a corporate income tax rate of 4% and stay out of a lot of trouble with the rest of the world. It is currently at 5.5% in Barbados, and half of the Canadian top 100 companies have an office there. Plus it would add a lot of money to the coffers, and maybe stay the exit of Canadian banks from the Bahamas.